ANALYSIS OF MAJOR ECONOMIC PHENOMENON ASSOCIATED WITH TOURISM IN DEVELOPED COUNTRIES

C. O. Ogboagha, N. I. Ajaraonye

Abstract


This work investigated the economic phenomenon associated with tourism in developed counties. Tourism has made significant contributions in the economy of most developed countries like France, China Germany, and Australia. Such impacts are income creation, employment generation, balance of payment, redistribution of wealth and foreign exchange earnings. Infact, tourism contributed to the economic stability of many developed countries and therefore calls for the attention of most developing countries with wealth of tourism resources to develop their tourism sector in other to diversify their economy.


Keywords


tourism, economic phenomenon and tourism contributions

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