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The importance of tourism for a country’s economy!

The importance of tourism for a country’s economy!

Tourism is an economic activity that plays an increasingly important role in the modern world. It is responsible for creating jobs and foreign currency for countries, and can thus contribute to a country’s economic and social development.

Jobs and Income

There is no doubt that tourism employs thousands of people. There are many different sectors it impacts, including transportation, accommodation, food, leisure activities and culture.

Also looking at the same sectors, tourism contributes to increasing the country’s GDP (Gross Domestic Product) and generating income for the population, having a very beneficial impact in this area.

Currencies

Tourism is also an activity that generates foreign currency. Foreign currencies are currencies that enter the country. They are important for the economy because they can be used to buy foreign goods and services. In Portugal, we don’t feel this need because the € is considered a strong currency, but in countries like Brazil, Angola, Thailand and others, it is very important to obtain foreign currency.

Social and economic development

With regard to the economic and social impact, we can analyze four major impacts:

  • Jobs, which can reduce poverty and social inequality while maintaining dignity for the local population;
  • Attracting investment, which can boost the country’s economic growth and consequently more money and opportunities circulating in the economy;
  • Promoting culture and history, which can contribute to national identity;
  • Protecting the environment, which can be done through sustainable tourism;

These are just a few examples of how tourism can have a positive impact on a country’s economy! If you didn’t think about these kinds of issues before traveling, now you’ll be more aware of your impact on others! Traveling is good not only for ourselves, but also for those around us! Have you booked your trip? We have lots of sustainable options for you! Check it out here!

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