Tourism today has grown significantly in both economic and social importance. Travel and tourism is the largest industry in the world on virtually any economic measure including : gross output,value added,capital investment,employment and tax contributions. In 1992 worldwide international arrivals had reached 467 million. In 1992, the Industry’s gross output was estimated to be $3.5 trillion, over 12% of all consumer spending worldwide international tourism receipts rose by 6-7% in 1992 to $278 billion. The travel and tourism industry is the world’s largest employer. With almost 130 million jobs,or almost 7% of all employees. This industry is the world’s leading industrial contributor, producing over 6% of the world gross national product, and accounting for capital investment in excess of $422 billion in new facilities and equipment. In addition, it contributes almost $400 billion in direct, indirect and personal taxes each year.
Tourism is the major source of income for a significant number of countries including Italy,Spain,Switzerland, and most Caribean countries. All countries who have accorded priority to tourism development have succeeded in attracting the targeted number of tourists. Spain attracts more than 40 million tourists a year. Singapore with relatively no tourism potential draws 7 to 8 million visitors per year.
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