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Further below are benefits of economic development. Increases employment rate Economic development leads to high employment rate.
When businesses and firms produce more products, their internal need for people increases gradually and thus they are forced to hire more people. Enhances standards of living Economic development is essential to a country as it provides an enhancement in the standards of living of its citizens.
Given the complexity of tourism consumption, its economic impact is felt widely in other production sectors, contributing in each case toward achieving the aims of accelerated development.
A major difficulty in defining the boundaries of the tourism sector is to ascertain what investment costs should be ascribed to the development of tourism.In this respect, the tourism sector can play an important role as a driving force of economic development.The impact this industry can have in the different stages of economic development depends on the specific characteristics of each country.With the gradual increase of profits from small businesses and firms due to economic development, business confidence increases and the business people put more efforts for even better profits. Enhances tax revenues As a country’s economy rises up, more taxes are collected by the government.This offers the government the extra money it requires for financing various projects.The rapid growth of specialty travel is fueled by some of the same factors, but there are a number of additional explanations: the boom in outdoor recreation and the new interest in health and fitness, for example.Environmentalism is another of the elements that have changed peoples attitudes about how they should spend their vacations.b.For example, when you search for a film, we use your search information and location to show the most relevant cinemas near you.We also use this information to show you ads for similar films you may like in the future.There may be a greater need to improve access to the attraction site or facility, and for a mode of development that does not interfere with a sensitive habitat or historic area.a.Three primary factors influence the level of nature and heritage tourism demand: overall tourism growth, the growth in specialty travel, and increasing awareness of and concern for the environment.