Measuring the Economic Impact of Tourism in European Emerging Markets

Statistics shows us with no doubt the importance of tourism industry, even the most immigrant economies can get without this industry shaky. United States economic earnings of tourism industry is about $110 billion annually, and ten times more that in the European Union, even with the financial economic downturn from the last five years, making tourism a key factor solution to cross over the economic crises. In this paper we are discussing the correlation between tourism and creating sustainable development through eliminating business complexities, and ways to measure tourism development. The study takes three emergent markets from the EU and compares them to Romania as a case with its medium of 10 million annual visitors. Results reveal that the majority of developed economies consider tourism a fundamental industry for their economic growth because it depends on other productive sectors making the infrastructure of a zone and cycling its economic wheel. The elimination of business complexity at both macro- and microeconomic level can help developing markets to reach a higher level of efficiency and eventually increase quality. Crown Copyright (C) 2015 Published by Elsevier B.V.