Tourism Boom Transforms Local Economies, Boosts Prosperity Nationwide
This article explores how tourism impacts the economy using a tool called Computable General Equilibrium (CGE) modeling. The researchers show how to gather details and build a specialized CGE model for tourism. By inputting various data into the model, they can predict the economic outcomes of tourism on different sectors. The study reveals the vital steps in creating and testing these models, as well as interpreting the results. This method helps in understanding the economic influences of tourism, paving the way for better decision-making and policy development in the tourism industry.