AN OVERVIEW ON TOURISM'S CONTRIBUTION TO GDP

Mihai Gabriel Cristian
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Mihai Gabriel Cristian: Lucian Blaga University of Sibiu

Revista Economica, 2020, vol. 72, issue 2, 19-26

Abstract: Tourism has been developed into the fourth industry in sense of contribution to GDP worldwide. This paper analyses the role of tourism industry to gross domestic product (GDP) of some European countries like as Germany, Italy, France, Spain and Romania, but also countries like USA, China, Japan, Great Britain, Mexico. The objective of this research was to determine the top five tourism markets in 2019 according to annual report of the World Travel and Tourism Council (WTTC, 2020). Romania's tourism industry had a direct role of 3.16 billion USD to the Gross Domestic Product (GDP) in 2018, a little more higher than in 2017, placing Romania on the 64th place in the world. The analysis the World Tourism and Travel Council (WTTC, 2020) estimates an economic impact of the COVID-19 epidemic on tourism and travel 5 times greater than that of the global financial crisis.

Keywords: GDP; Tourism Industry; WTTC; TLEG (search for similar items in EconPapers)
JEL-codes: L83 Z31 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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