Economic Analysis of International Tourism

TL;DRAbstract

The economic development of world regions has increasingly been linked to tourism development and particularly the volume of tourist arrivals. International Tourism is a form of trade that represents exports as tourist arrivals. It has often been assumed that most world regional international tourism flows from the developed to the underdeveloped world, and forms a process of foreign exchange income from developed to underdeveloped economies. This paper attempts to test whether the volume of flow does tend to indicate over time a movement of tourism trade in favour of the developing countries. Principal components analysis is used to produce an empirical summary of the data set. The analysis of world international tourism is an identification of the economic and tourism structure of countries through the identification of the main structural components and the subsequent clustering of countries on these components.

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