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The Impact of Tourism in A Deficit Economy: A Conceptual Model in Bangladesh Perspective

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Author(s): Mohammad Ashraful Ferdous Chowdhury | Faisal Mohammad Shahriar

Journal: Business Intelligence Journal
ISSN 1918-2325

Volume: 5;
Issue: 1;
Start page: 163;
Date: 2012;
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Keywords: Tourism Development | Economic Impact | Investment | Deficit Economy | Conceptual Model

ABSTRACT
Countries all over the world nowadays perceive tourism as a sustainable means for economic prosperity in macro and micro levels. This conception is indeed supported by experiences learned from the successful ones. Nevertheless, the impact of tourism is differently observed in the economies with deficits and those of with surpluses. In the cases of deficit economies, the inputs necessary to support the tourism industry have to be largely acquired through import. Moreover, emphasizing tourism development can largely enhance the scarcity of resources for other industries and thus, result in adverse economic impacts. Therefore, an argument remains on whether accelerated tourism development is causing a deficit economy to loose more of its resources than it is earning through the same or not. The study is an effort to probe into the economics of tourism to find out to what extent a country with a deficit economy has to give up the proceeds of the tourism to support the very industry and its growth. The methodology of the study encompasses literature review and conceptual reasoning. By nature, the study is qualitative. The study is largely based on a conceptual model devised to explain the leakage and injections of the tourism industry and its actual impact on the economy as a whole. The study bears immense significance on the context that, Bangladesh, with a largely deficit economy, is on is way to venture on tourism development with an expectation to boost up the economic development. The study can also act as the background of further and larger research on the similar issues that would encompass empirical and quantitative studies. Due to the qualitative nature, the study does not offer any conclusive findings or definite recommendations; rather it concludes with proposition for empirical studies to test the viability of the proposed model in reality.
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