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Master of tourism economics and hotel management (MTEHM) 2012

In spite of widespread political and economic constraints imposed on global tourism development during last few decades, world tourism industry has emerged as one of the fastest growing single industries in the world. Its performance has been highly acclaimed to the comparable performances of many other export industries during the same period. At present, global tourism industry represents around 11% of the world’s GDP, around 8% of global employment and around 9% of global wages. It is also the largest single employment generator of the world economy today. International visitors’ spending represents around 8% of world exports too. Moreover, tourism has been identified as one of the top five export categories in 83% of the total countries of the world. | MANAGEMENT MTEHM Pố ì . . MTEHM Student Hand Book 2012 Academic Recognition and Professional Excellence for Tourism and Hotel Management University of Colombo Master of Tourism Economics and Hotel Management Introduction MASTER OF TOURISM ECONOMICS AND HOTEL MANAGEMENT MTEHM _______________ In spite of widespread political and economic constraints imposed on global tourism development during last few decades world tourism industry has emerged as one of the fastest growing single industries in the world. Its performance has been highly acclaimed to the comparable performances of many other export industries during the same period. At present global tourism industry represents around 11 of the world s GDP around 8 of global employment and around 9 of global wages. It is also the largest single employment generator of the world economy today. International visitors spending represents around 8 of world exports too. Moreover tourism has been identified as one of the top five export categories in 83 of the total countries of the world. With increasing recognition of the contributions of the tourism industry to economic development Sri Lanka has made MTEHM University of Colombo Master of Tourism Economics and Hotel Management significant efforts to improve this industry during the last few decades. Today tourism has become one of the largest foreign exchange earners in Sri Lanka. It is estimated that the direct impact of tourism industry in Sri Lanka on GDP is more than 2 percent but this could be much higher when considering both indirect and induced impacts. Projected foreign tourist arrivals by 2016 will be 2.5 million tourists. Though the industry currently provides around 150 000 direct and indirect employment opportunities this amount should go up to more than 500 000 by 2016. Nearly 20 percent of these forecasted employment opportunities are also management level employment. It is worthwhile mentioning that many universities and educational institutions are .