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Learning objectives
At the end of this chapter the reader will be able to:
- Identify the distinguishing economic characteristics of tourism.
- Compare and contrast the direct and indirect or multiplier effects of tourism.
- Identify the factors that influence the extent to which a destination will benefit economically from tourism.
- Identify the social, cultural and environmental impacts that tourism has on a destination.
- Define and correctly use the following terms: price elastic, income multiplier, employment multiplier, marginal propensity to consume, propensity to import, opportunity costs, acculturation, income elastic, sales multiplier, payroll multiplier, balance of payments, backward linkages, demonstration effect, cultural involution.
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