Tourism Income Per Country

Tourism plays an important role in the economy and it is a major source of income for most countries around the world. Countries have invested in tourist attractions and infrastructure in their countries to attract both domestic and international tourists. 

International tourists account for more than 50% of tourism revenue in most countries. An expenditure incurred by incoming international visitors on goods and services and sometimes passenger types received in the visited country is called an international tourism receipt.

These payments may include airfare, accommodation fees, shopping fees, money spent on food, and entrance fees paid for public facilities.

Countries that earn the most from international tourism

United States

International tourism is an important part of US international trade. The range of tourist attractions, including parks, museums, historic sites, hotels, recreation centers, arcades, and sports facilities are among the factors responsible for an increase in international tourism receipts in the United States. The majority of international tourists came from Mexico, Canada, and Great Britain.

Spain

Spain is the second highest-service country in the world in terms of tourism. The number of international tourists visiting Spain has increased over the years. Environmental factors such as favorable weather, romantic coastline, beaches, and 44 world heritage sites were important factors influencing the arrival of international tourists in Spain.

UK

The United Kingdom (UK) earns the third highest amount from tourism in the world. The majority of those visiting the UK went for a holiday, business and study. London was the most visited city in the UK with Manchester closely following. Some of the most famous places that are visited include the British Museum, the National Gallery, the Tower of London, and the Science Museum.

Foreign tourists serve as an economic boost

International tourism is a major source of income that directly affects the growth of a country's economy. The income from tourism can be used to develop other sectors of the economy, such as transport, health, and education.

International tourism has also created employment in most countries, especially in the local communities. France recorded a total of 1.2 million jobs created as a result of tourism which led to further revenue generation through taxes.

Hotels have also been built to meet the high demand for accommodation in the countries visited. International connections have also been strengthened through international tourism.

Countries that earn the most from international tourism

Foreign currency income from tourism could exceed 26 billion dollars at the end of 2022

Press Release 162/2022.- The Secretary of Tourism of the Government of Mexico, Miguel Turaco Marquis, announced that based on expectations, this year Mexico will attract 26 thousand 121 million dollars in income from international visitors, that is, 6 thousand 325 million dollars more than the estimated in 2021, that is, 32% more, and 6.3% above the level observed in 2019.

• The Secretary of Tourism, Miguel Turaco Marquis, informed that based on the behavior of the tourist activity, the expectations were adjusted upwards.

• He stressed that tourism consumption is expected to be 152,591 million dollars, which means an increase of 14.3% compared to 2021.

• He indicated that it is expected that the participation of the Tourism GDP in the National GDP will increase and its representation will be 8.4%.

When considering the positive results from January to May 2022 of the Traveler Survey and the result of the 1st Quarter of the Quarterly Indicator of Tourist Activity (ITAT) of 2022, the head of the Ministry of Tourism (Sector), highlighted that the expectations they have been adjusted upwards in accordance with what has been observed in the behavior that the tourist activity has been showing during this year.

He indicated that by the end of 2022, the arrival of 42 million 301 thousand international tourists is expected, 10 million 425 thousand more than what was registered in 2021, this is an increase of 32.7%, and only 6% to reach the level observed in 2019. 

He pointed out that the estimate of tourist consumption is 152 thousand 591 million dollars, which means an increase of 14.3% compared to 2021. Of which, 13 thousand 893 million dollars would be consumed per lodging, this is 18.7% more than in 2021.

Tarico Marquis pointed out that an average annual occupancy of 55.9% is expected, standing 14.6 percentage points above 2021, when it closed at 41.3%, which in turn was 15.3 percentage points above 2020. 

He commented that regarding the accommodation of shared economies, it is estimated that in 2022 there will be 11 million spaces offered, which is 6.2% of the lodging offer, which would contribute 2.8 percentage points of the general occupancy.

The head of the Sector stressed that based on the strategies for the recovery of tourism in Mexico, it is expected that the participation of the Tourism GDP in the National GDP will increase and its representation will be 8.4%.

He made a comparison of the Tourism GDP in the national economy, in three critical years: 1995 due to the economic crisis in Mexico, in 2009 due to AH1N1 influenza and the world economic crisis of that year, and in 2020 due to the pandemic, when it was 6.9 %, after being at 8.5% in 2019.

The Secretary of Tourism emphasized that the expectations for the rise of tourism in Mexico confirm that the policies implemented by President Andrés Manuel López Obrador, of not restricting international flights, applying the bio-sanitary protocols developed between the Secretaries of Health and Tourism, in coordination with the private sector and the vaccination strategy were successful.

Source : Details About Tourism Income Per Country