ECONOMIC EFFECTS OF TOURISM ON THE WORLD ECONOMY
ECONOMIC EFFECTS OF TOURISM ON THE WORLD ECONOMY

Author(s): Miloš Pjanić
Subject(s): Supranational / Global Economy, Tourism
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Tourism; economy; development; world.
Summary/Abstract: Along with the globalization of the world economy, there is a globalization of the tourism industry,having a significant impact on the growth of international tourism worldwide. Tourism is one ofthe key factors for the growth and development of the world economy and at the same time the new exportindustry. Tourism development is a significant source of foreign exchange, influences employmentgrowth, growth of gross domestic product, improvement of the country’s balance of payments structure,and is a significant factor in overall economic development. Given the accelerated growth and developmentof tourism and its increasingly important role in the global market, it has a major impact on otherrelated industries, both directly and indirectly. The aim of the paper is to point out the financial effectsof tourism as one of the fastest growing industries on the world economy

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