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Ch 5: Tourism Economics

About This Chapter

Boost your confidence ahead of an important exam by reviewing this chapter on tourism economics. You can work towards a great score on test day by studying our short, user-friendly video and text lessons 24 hours a day on your mobile device or computer.

Tourism Economics - Chapter Summary

Our instructors outline the economics of tourism in this engaging chapter. When you review these lessons, you'll study the important concepts pertaining to the tourism market and its supply and demand. Studying for a test or finishing your homework is simple with these easy-to-understand lessons, which have been written by professional instructors. You can quickly navigate any video lesson with the video tabs feature in the Timeline. If you struggle with any of these subjects, submit your questions to one of our helpful instructors for assistance. This chapter is designed to:

  • Outline a market supply schedule
  • Detail market demand schedules
  • Explain how tourism demand can be modeled and forecasted
  • Define the price elasticity of demand as it relates to the tourism and hospitality industry
  • Give an example of the multiplier effect in economics

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