Make a synopsis: Chapter 23 - The Direct and Indirect Contributions of Tourism to Regional GDP: Hawaii. Maximum of two pages only (1000 words). Use Microsoft Word to create your synopsis.
Reference: Handbook of Tourism Economics, Analysis, New Applications and Case Studies
Answers & Comments
Answer:
Chapter 23 of the Handbook of Tourism Economics, Analysis, New Applications and Case Studies, explores the direct and indirect contributions of tourism to the regional GDP of Hawaii. The chapter begins by providing an overview of the tourism industry in Hawaii, which is one of the most popular tourist destinations in the world. The state's tourism industry is a significant contributor to its economy, and it is essential to understand the direct and indirect contributions of tourism to the regional GDP.
The chapter highlights the importance of measuring the economic impact of tourism accurately. The authors argue that traditional measures of tourism's economic impact, such as visitor spending and employment, do not capture the full extent of tourism's contribution to the regional GDP. Therefore, the authors use a more comprehensive approach to measure the economic impact of tourism in Hawaii.
The authors use a regional input-output model to estimate the direct and indirect contributions of tourism to the regional GDP of Hawaii. The model considers the inter-industry relationships and the flow of goods and services within the economy. The authors also use a multiplier analysis to estimate the total economic impact of tourism on the regional GDP.
The chapter presents the results of the analysis, which show that tourism is a significant contributor to the regional GDP of Hawaii. The direct contribution of tourism to the regional GDP is estimated to be around 19%, while the indirect contribution is estimated to be around 11%. The total economic impact of tourism on the regional GDP is estimated to be around 30%.
The authors also examine the distribution of the economic benefits of tourism across different industries in Hawaii. The analysis shows that the accommodation and food services industry is the most significant beneficiary of tourism, followed by the retail trade and transportation industries. The authors argue that policymakers should consider these findings when formulating policies to promote tourism in Hawaii.
In conclusion, Chapter 23 of the Handbook of Tourism Economics, Analysis, New Applications and Case Studies, provides a comprehensive analysis of the direct and indirect contributions of tourism to the regional GDP of Hawaii. The chapter highlights the importance of measuring the economic impact of tourism accurately and presents a more comprehensive approach to measuring the economic impact of tourism. The analysis shows that tourism is a significant contributor to the regional GDP of Hawaii and provides insights into the distribution of the economic benefits of tourism across different industries. The chapter is a valuable resource for policymakers, researchers, and practitioners interested in understanding the economic impact of tourism in Hawaii.