Tourism Industry Poised for Transformation as CGE Models Unlock Insights
CGE Models are powerful tools used to understand how changes in policies or shocks affect different industries and people's well-being in a country. This study focuses on applying these models to the field of tourism economics, which has not been explored much before due to data limitations. Now, with more and better data available, researchers can use CGE models to analyze how tourism activities impact economies. These models help us see which industries grow or shrink due to tourism and which groups in society benefit or lose from these changes. By using CGE models in tourism economics, we can gain insight into how policies and shocks affect the tourism sector and the wider economy in detailed ways.