Slow tourism, a vector of growth and economic diversification of a region

The tourism industry has long been recognized as one of the key drivers of the global economy. It encompasses a wide range of activities, from international travel and hotel services to catering, transportation, leisure and culture. Not only does tourism provide opportunities for exploration and discovery, but it also exerts a significant economic impact across the world. In this article, we will take an in-depth look at the economic power of tourism, looking at job creation, economic growth, investment, multiplier effects and the challenges the industry faces.

Tourism appears to be a powerful economic engine expected to further gain in importance depending on Jeremy Boher. The direct contribution of tourism to global GDP is around 3,1%. In France, this figure is estimated at 8% and in Switzerland in the canton of Vaud at 7.2%. This estimate concerns the sum of values ​​generated by tourism industries including accommodation, catering, travel agencies, transport, cultural activities and the retail trade of goods characteristic of tourism according to theWorld Tourism Organization (UNWTO). Tourism therefore stimulates economic growth in several ways:

1. Increase in Revenue : Tourism generates substantial revenue through travelers' spending on accommodation, food, transportation, leisure activities, souvenir purchases, etc.
2. Infrastructure Investments : The tourism industry requires infrastructure such as airports, roads, hotels and attractions. These infrastructure investments drive long-term economic growth.
3. Stimulus for Other Sectors : Tourism stimulates other sectors of the economy, including agriculture, fishing, culture, retail, food industry, construction, etc.

Balance of payments : Tourism can contribute significantly to a country's balance of payments, bringing in foreign exchange through spending by international visitors.

It is also interesting to calculate the total contribution of tourism to the economy by including its indirect and induced economic effects. These are intermediate consumptions carried out by businesses in the tourism sector, i.e. the goods and services that tourism businesses purchase from their suppliers. Thus, according to the World Travel & Tourism Council, the Total contribution of tourism to global GDP is 9,8%. This is more than the contribution of the automobile industry, the oil industry or the food industry. There is therefore a multiplier effect.

Multiplier effects are an important economic concept that explains how an initial tourism expenditure can lead to a series of additional expenditures in the economy. For example, when a tourist stays in a hotel, the money they spend not only benefits the hotel, but it also circulates in the local economy. The hotel owner can purchase local products, hire local staff, who in turn will spend their salary in the region, creating a cascade of beneficial economic effects.

Multiplier effects may be greater in developing countries, where tourism can stimulate economic growth, reduce poverty and improve local infrastructure. However, they are also present in developed economies, where tourism is a strong economic pillar.

Tourism is therefore a global driver of economic progress and transformation, and a key sector for least developed countries, where the industry represents 7% of international trade. It helps create around 9% of jobs in the world, which represents around 280 million jobs. According to apolitical, it is the leading employer for women and young people, and it is mainly made up of small and medium-sized enterprises (SMEs), which represent around 85% of active businesses. Here is how tourism creates jobs: 

1. Direct Jobs : Direct jobs are those that are directly linked to the tourism industry. They include jobs in hotels, restaurants, airlines, travel agencies, tourist attractions, tour guides, etc.
2. Indirect Jobs : Indirect jobs are created in sectors linked to tourism but which are not specifically dedicated to this industry. For example, the demand for agricultural products, construction materials and other goods and services increases in response to the influx of tourists.
3. Induced Jobs : Induced jobs result from the expenditures of employees in the tourism sectors and employees in the indirect sectors. When these workers spend their wages in other sectors of the economy, this generates additional jobs.
4. Seasonal and part-time jobs : Tourism offers many opportunities for seasonal and part-time employment, which is beneficial for students, retirees and others looking for flexibility.

Although tourism has considerable economic potential, it faces significant challenges. Some of these challenges include:

1. Seasonality : Many tourist destinations experience high and low seasons, which can make it difficult to maintain employment and manage tourist flows.
2. Environmental impacts : Mass tourism can have negative environmental impacts, such as overconsumption of resources, pollution and degradation of ecosystems.
3. Economic inequality : In some regions, the economic benefits of tourism are not distributed equitably, creating economic inequalities.
4. Economic Dependence : Over-reliance on tourism can leave economies vulnerable to market fluctuations and crises.

However, these challenges can also be opportunities to improve the sustainability and inclusiveness of the tourism industry. Efforts to regulate overtourism, promoting responsible tourism and investing in the training and education of workers in the sector can help maximize the economic benefits of tourism while minimizing its negative impacts. Covid has also been an accelerator for sustainable tourism

There are various factors that can impact the growth of tourism and therefore economic development. It may be the political and security context which makes access to the country difficult for travelers. It can also be of an economic crisis or a global crisis such as COVID.

According to UN The pandemic brought international tourism to a screeching halt that highlighted the importance of the sector to both national economies and individual livelihoods. Countries have been forced to diversify their sector of activity and according to the UNWTO many destinations are developing domestic tourism and rural tourism to help local economies in rural and crisis areas to stimulate job creation and protect natural resources and cultural heritage. Priority was therefore given to national tourism in a sustainable development or slow-tourism approach. According to the UNWTO, this trend also allows reconnect populations to their heritage and to expand opportunities for access to culture and cultural participation.

According to Unesco, restarting post-Covid tourism is a central concern for many governments around the world. However, the measures put in place today will influence tourism tomorrow; the pandemic therefore offered the opportunity to rebuild a stronger, more agile and sustainable tourism sector.