Event Tourism and Its Impact on Economy

<p>The aim of the project is to study the influence of event tourism on the GDP of developed and developing countries.</p><p>According to the designated purpose I set &nbsp;the following tasks:</p><ul><li>identify the features of&nbsp; event tourism</li><li>single out the main aspects of impact of event tourism on national economy or the region</li><li>&nbsp;estimate the influence of global events like the Olympic Games on the economies of various countries</li></ul><p style="margin-left:27.35pt;">&nbsp;</p><p>For the research part of my thesis I&rsquo;ve used statistics from the site World Travel and Tourism Council. This organization is an international forum of heads and leaders of more than a hundred of the most advanced companies of the world travel and tourism industry.</p><p>The project provides an explanation for indicator Travel &amp; Tourism Total contribution to GDP, which is calculated directly in terms of the tourism industry and indirect effects. These impacts include the total contribution to GDP in the following four factors:<br />&nbsp;&nbsp;&nbsp; &nbsp;- investment in the tourism industry,</p><p>&nbsp;- general government expenditures in support of the tourism industry,</p><p>&nbsp;- domestic procurement of goods and services in the tourism sector,</p><p>&nbsp;-&nbsp; induced impacts due to additional costs of enterprises or individuals directly or indirectly involved in tourism .</p><p>I&rsquo;ve taken the Olympics as an event for the study. My choice is due to the direct approach of the current events in our country and its importance on a global scale.&nbsp; The research includes countries that have hosted the Olympic Games (OG) in the time period from 1988 to2013.</p><p>I&rsquo;ve split time indicators into three groups: one year before the Olympic Games in the country, the year of OG and the year after OG. I can imagine that the GDP created in the tourism sector, the year before the Olympic Games in the country should be lower than in the year of OG.</p><p>I put forward an opinion that a part of the economy of developed countries, which is responsible for event tourism industry is not subject to outside influence. Hosting the Olympic Games on the territory of these countries may not cause a significant change in GDP. This can be explained by the highest development of event destinations in these countries. &nbsp;It is likely that &nbsp;if a share of tourism GDP is small the conduction of event activities will cause a slight change in the overall GDP.</p><p>In my project I&rsquo;ve tried to scrutinize &nbsp;the economic indicators of the tourism industry to make the right conclusion: for which countries the conduction of events will give a positive result, and for which - reserve. It is possible that with the development of the tourism industry, many countries will be able to solve other problems, such as lack of jobs, lack of investment in the economy and more.</p><p>I hope that my project will be noticed by economic representatives of the countries and they will take all possible steps to increase the level of GDP by using the tourism industry.</p>