Open AccessINFLUENCE OF TOURISM ON GROSS DOMESTIC PRODUCT (ON THE EXAMPLE OF OIL PRODUCING COUNTRIES)
Author(s) -
Кутяшова Елена Васильевна,
Данилин Олег Евгеньевич
Publication year - 2021
Publication title -
vestnik udmurtskogo universiteta. èkonomika i pravo
Language(s) - English
Resource type - Journals
eISSN - 2413-2446
pISSN - 2412-9593
DOI - 10.35634/2412-9593-2021-31-3-371-379
Subject(s) - diversification (marketing strategy) , gross domestic product , tourism , business , economics , product (mathematics) , investment (military) , international economics , economy , economic growth , geography , geometry , mathematics , archaeology , marketing , politics , political science , law
The article is devoted to the peculiarities of the economic development of oil-producing countries, the impact of tourism on the economy of energy exporting countries and the formation of gross domestic product. The high dependence of oil-producing countries on the export of raw materials, fluctuations in the world oil market and awareness of the limited resources require a policy of diversification of national economies. Overcoming the dependence of the economy on a narrow range of economic activities, countries choose rapidly developing economic sectors that provide investment inflows, high export earnings and job creation. One such sector is tourism and travel. Within the framework of the study, countries with a high degree of dependence on energy exports were identified and grouped according to the level of economic development. To identify the role of tourism in the formation of the gross domestic product and the development of oil-producing countries, the average growth rates of the gross domestic product, the contribution of tourism to GDP, and investment in tourism were calculated for the period from 2010 to 2019. The countries that have chosen tourism as the direction of economic diversification are highlighted. An assessment of the impact of tourism on the rates of development of national economies of oil-producing countries is given.