The Effects of Economic Crisis on Tourism

• Author: Maricica Drutu (Ivan)
• Position: Ph.D Student, Academy of Economic Studies Bucharest, Romania
• Pages: 471-478

The Effe

Ph.D Student,

Academy of Ec

Abstract: Objectives.

This pape

tourism, followed by an analysis

buying behavior of such service

should be used for tourist destin

the global economy, being the

economic and financial crisis tha

both domestic and international

emphasized that tourism as a p he

dependence on the environment,

Value.

Because of this depend en

values.

Keywords:

economic and financ

1 Introduction

The tourism i

ndustry is one of

includes hotels, catering and tour

tourist arrivals in 1980 there wer

than 9% of global GDP. It repres

employment (direct and indirect)

Tourism makes a majo

r contribu

areas of job creation, sustain

investment, business creation and

global recession. In 2008, interna

U.S. $ 944 billion. Travel and to

and developing countries -

a gro

spending. After several years of

second half of 2008 and intensi

business travel to destinations an

activity between regions. While

dramatically in the Middle East.

Increased u

nemployment, decrea

household wealth have

contribu

Performance and Risks in the

ffects of Economic Crisis on Tourism

Maricica Druțu (Ivan)

f Economic Studies Bucharest, Romania, maricica20

aper proposes a listing of the main effects of economic and f

sis of key trends in tourism development and mutations occur

ices.

Prior Work. All these h ave a s

ignificant impact on t

tinations, given that the last 20 years, tourism has made a gre

he fastest growing sector in terms of External revenue and

that has affected the world economy in 2008, has led to decre

al tourists.

Approach.

In terms of sustainable development, a

phenomenon, but also as an activity is unique in its kind that m

nt, social environment and cultural values, that are found in

dency, tourism has an undeniable interest in ensuring the susta

ancial crisis

; tourism; sustainable development; rural tourism

of the sectors with the fastest global economic

urism. In 1950, tourism industry has registered 25

were 277 million international touris

t arrivals. Tou

resents more than 220 million jobs, representing 6

ct) and over 75 million direct jobs worldwide in the

ibution to export earnings and provides significant

ainable development, economic diversification,

nd local empowerment. Tourism and travel industry

rnational tourist arrivals reached 922 million and r

tourism demand is closely linked to economic con

growing

economy will produce, in general, increas

of consecutive growth, a decline in international t

nsified in 2009. A drop in tourist flows, shorter s

and spending restraint have led to a significant con

ile tourist arrivals have remained stable in Africa

reased consumer confidence, market volatility, and

ibuted to this trend. UNWTO, reported that wor

the European Economy

471

a2010@yahoo.com

d financial crisis on

curring in consumer

n the strategies that

great contribution to

nd create jobs, and

creasing the flow o f

t, a concern must be

t manifests itself by

in

areas of interest.

stainability of these

ic growth. This sector

25 million international

ourism generates more

6 to 7 percent of total

he formal economy.

ant opportunities in the

n, poverty reduction,

stry wa

s not immune to

d revenue rose 1.7% to

onditions in developed

ease trade and tourism

l tourism began in the

r stays, restricti

ons on

ontraction in economic

ica, they have dropped

nd strong reductions in

orldwide international