Page 45 - Introduction to Tourism
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environment, its market, its results, its linkages
with other institutions, the consumer, and the
interaction of the fi rm with the consumer. In
addition, a system can take a macro-viewpoint
and examine the entire tourism system of a
country, state, or area and how it operates within
and relates to other systems, such as legal,
political, economic,
and social systems.
ECONOMIC IMPORTANCE
The World Travel and Tourism Council (WTTC)
has been measuring the economic impact of
travel and tourism for the world, regions, and
Organization for Economic Cooperation and
Development (OECD) countries since 1991. In
1992 they released their first estimates indicating
that travel and tourism is one of the world’s
largest industries and a generator of quality jobs.
They continue their measurement efforts. In 2008
the global travel and tourism industry was
expected to generate $5.89 trillion of economic
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