AN OVERVIEW ON TOURISM’S CONTRIBUTION TO GDP

CRISTIAN Mihai Gabriel , Lucian Blaga University of Sibiu

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

JEL Classification: Z31, L83

Volume: 72, Issue: 2

Pages: 19 - 26

Publication date: July, 2020

Download the article: http://economice.ulbsibiu.ro/revista.economica/archive/72202cristian.pdf

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