Determinants of International Tourism for Mongolia
In this study, as one of the world’s largest economic parts, Tourism creates jobs, drives exports, and generates prosperity across the world. In our annual analysis of the world economic effect of tourism, the part is shown to account for 10.4% of world gross domestic product (GDP) and 313 million jobs, or 9.9% of total employment, in 2017. The right policy and investment decisions are only made with empirical evidence. For over 25 years, the world tourism council (WTC) has been providing this evidence, quantifying the economic and employment effect of tourism. Our 2018 Annual Economic Reports cover 185 countries and 25 regions of the world, providing the necessary data on 2017 performance as well as unique 10-year forecasts on the part’s potential. 2017 was one of the strongest years of GDP growth in a decade with robust consumer spending worldwide. This world growth transferred again into tourism with the part’s direct growth of 4.6% outpacing the world economy for the seventh successive year. As in recent years, performance was particularly strong across Asia, but proving the part’s resilience, 2017 also saw countries such as Tunisia, Turkey, and Egypt that had previously been devastated by the effects of terrorist activity, recover strongly. This power of resilience in tourism will be much needed for the many established tourism destinations that were severely affected by natural disasters in 2017. While our data shows the extent of these effects and rates of recovery over the decade ahead, beyond just numbers, WTC and its members are working hard to support local communities as they rebuild and recover.
Keywords - Travel, Tourism, Economic, Development, Mongolia.