Paper , Order, or Assignment Requirements
The Republic of the Philippines is a country located in South East Asia and is made up of about 7,600 islands. It. is classified by the World Bank as a lower middle-income economy and is one of Asia s fastest growing economies. However, the Philippines government are looking to increase the contribution to economic growth of sectors other than the agricultural sector Economic experts have reminded the Philippines government that the tourism and hospitality industry can positively contribute to economic growth and development.
Required
Prepare a paper for the government of the Philippines explaining a minimum of three (3) ways that the tourism and hospitality industry can contribute to positive economic growth and development.
Your explanation should include:
- a) The component(s) of GDP that are impacted
- b) Direct, indirect and induced contributions to economic growth and development
- c) Reference to examples from other economies (local, national or global) to support your suggestions. These examples may be broadly related to the industry or be chosen from a particular area of interest in foods, hospitality, tourism and events .