International tourism, expenditures (% of total imports)
Countries By International tourism, expenditures (% of total imports)
Key points
- International tourism expenditures as a percentage of total imports can indicate how much a country relies on revenue generated from international tourism to support its economy.
- Qatar has the highest proportion of international tourism expenditures compared to total imports, showcasing the country's strong tourism industry and reliance on tourism revenue.
- Tajikistan, on the other hand, has the lowest percentage of international tourism expenditures relative to total imports, suggesting a smaller contribution of tourism to its overall import revenue.
- The average percentage of international tourism expenditures to total imports across the listed countries is approximately 3.98%, highlighting the significance of tourism as a source of foreign exchange earnings globally.
- Countries with higher percentages, such as Guinea and Lebanon, may have economies more dependent on tourism, while those with lower percentages, like Tajikistan and Iraq, may have diversified revenue sources or less developed tourism sectors.
Official Definition of International tourism, expenditures (% of total imports)
International tourism expenditures are expenditures of international outbound visitors in other countries, including payments to foreign carriers for international transport. These expenditures may include those by residents traveling abroad as same-day visitors, except in cases where these are important enough to justify separate classification. For some countries they do not include expenditures for passenger transport items. Their share in imports is calculated as a ratio to imports of goods and services, which comprise all transactions between residents of a country and the rest of the world involving a change of ownership from nonresidents to residents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services.
Importance
International tourism expenditures (% of total imports) is a crucial macroeconomic statistic for a country as it provides insight into the impact of tourism on the economy.
A low value of this statistic may indicate a limited contribution of the tourism sector to the economy. This could imply missed opportunities for economic growth, job creation, foreign exchange earnings, and overall development. Countries with low international tourism expenditures relative to total imports may need to focus on enhancing their tourism industry through marketing strategies, infrastructure development, and policy support.
In contrast, a high value of international tourism expenditures (% of total imports) suggests a strong and vibrant tourism sector. This can bring significant benefits such as increased revenue, employment opportunities, cultural exchange, and enhanced international visibility. Countries with high international tourism expenditures are likely to have a more diversified economy, greater resilience to economic shocks, and improved balance of payments due to foreign currency inflows.
Top 10 Countries by International tourism, expenditures (% of total imports)
Bottom 10 Countries by International tourism, expenditures (% of total imports)
Regions
Europe
The data on International tourism expenditures (% of total imports) for the listed countries varies significantly, with Ukraine having the highest value of 7.65% and Ireland the lowest at 0.48%. This statistic reflects the economic importance of tourism for each country, with Ukraine relying heavily on tourism for its imports compared to Ireland. Countries like France and Portugal also have relatively high values, indicating a strong tourism sector. However, high dependence on tourism revenues can make economies vulnerable to external factors like global economic slowdowns or pandemics, as seen with the COVID-19 crisis. Diversification of income sources and investing in infrastructure could mitigate risks and lead to more sustainable economic development for these nations.
Far East: East Asia, SE Asia, Australia
Australia, Cambodia, Indonesia, Japan, South Korea, Laos, Malaysia, Mongolia, Philippines, Thailand, and Vietnam all have varying levels of international tourism expenditures as a percentage of total imports. Mongolia stands out with the highest ratio at 7.81%, indicating a significant reliance on tourism for its economy. Countries like Laos and the Philippines also show substantial percentages, highlighting their attractiveness as tourist destinations. However, while tourism can boost economies, it also exposes them to external shocks and dependency on a single industry. For Japan and South Korea, with lower ratios, this indicates a more diversified economy but potentially missing out on the benefits of a thriving tourism sector. Overall, the statistic underscores the importance of balancing economic portfolios to ensure sustainable development.
ASEAN
- Cambodia has the lowest percentage of international tourism expenditures relative to total imports at 0.92%, indicating a lower reliance on tourism for foreign exchange earnings. Indonesia, on the other hand, allocates 1.24% of total imports to tourism expenditures, suggesting a moderate engagement in the global tourism market. Laos and the Philippines stand out with relatively higher ratios of 4.47% and 4.87% respectively, showcasing a significant dependence on tourism. Malaysia and Thailand fall in between at 2.79% and 1.59%, showing a balanced approach. Vietnam also demonstrates a considerable focus on tourism with 1.62% of total imports spent in this sector.
- Advantages of high international tourism expenditure percentages include increased foreign exchange earnings, job creation, and economic diversification. However, overreliance on tourism can leave countries vulnerable to external shocks such as global economic downturns or natural disasters. Developing tourism infrastructure and promoting sustainable practices are essential for long-term growth.
Latin America
Argentina leads among the selected countries with international tourism expenditures accounting for 5.25% of total imports, indicating a strong reliance on tourism for foreign exchange earnings. Costa Rica follows closely behind at 3.98%, leveraging its natural beauty to attract visitors. On the other hand, Mexico's lower percentage of 1.01% suggests room for growth in tourism revenue generation. While high percentages like Panama's 3.41% reflect a vibrant tourism sector, they can also indicate a vulnerability to external factors impacting tourism. Overall, for these countries, a high share of tourism expenditure in total imports can boost economic growth but also make them susceptible to fluctuations in the global tourism industry.
Middle East
The statistic on International tourism expenditures (% of total imports) reveals interesting insights into the economic dynamics of the listed countries. Countries like Qatar and Kuwait stand out with high percentages of 19.48% and 15.21% respectively, showcasing a heavy reliance on tourism for foreign exchange earnings. While this indicates economic diversification, there is susceptibility to external shocks. Conversely, countries with lower percentages like Turkey and Algeria demonstrate a less tourism-dependent economy, offering more stability but potentially missing out on revenue opportunities. For nations like Egypt and Morocco, moderate percentages reflect a balanced approach. Overall, the statistic highlights varying levels of economic exposure to the tourism industry, influencing development strategies and resilience to global economic fluctuations.
Rivals
Anglosphere v BRICS
Australia, with international tourism expenditures accounting for 3.04% of total imports, leads among the listed countries, demonstrating a strong reliance on tourism for economic activity. Brazil, India, and the Russian Federation follow closely behind, indicating a significant portion of their imports being driven by tourism. South Africa and the United States show lower percentages, suggesting a less pronounced impact of tourism on their import structure. For Australia, Brazil, India, and the Russian Federation, the advantage lies in the boost to their economies, while the disadvantage could be vulnerability to external factors affecting tourism. Conversely, South Africa and the United States may benefit from more balanced import compositions. This statistic underscores the importance of tourism as a key economic driver for these countries, with implications for revenue generation, job creation, and foreign exchange reserves.
Russia v Ukraine
International tourism expenditures (% of total imports) for the Russian Federation stand at 3.54%, while for Ukraine it is 7.65%. Ukraine's higher percentage indicates a greater reliance on international tourism as a source of foreign exchange earnings compared to Russia. This could signify a more developed tourism industry in Ukraine, offering potential economic benefits such as job creation and infrastructure development. However, over-dependence on tourism can also pose risks, as seen in the vulnerability of the sector to external shocks. In contrast, Russia's lower percentage suggests a less significant contribution of tourism to its overall imports, offering a more diversified economic base but potentially missing out on the growth opportunities that a robust tourism sector can bring.
India v Pakistan
India and Pakistan both have notable international tourism expenditures as a percentage of total imports, with India at 3.20% and Pakistan at 2.39%. India's higher percentage indicates a relatively larger portion of its imports being spent on international tourism compared to Pakistan. This reflects India's growing tourism sector and attractiveness to international visitors. However, this heavy reliance on tourism expenditures could pose a risk during economic downturns. For Pakistan, while the percentage is lower, there is potential for increased tourism revenue to contribute positively to economic growth and foreign exchange reserves. Overall, for both countries, effectively managing this statistic is crucial for sustainable economic development and diversification.
Turkey v Greece
In terms of international tourism expenditures as a percentage of total imports, Greece stands at 2.09% while Turkey is at 0.71%. Greece's higher ratio indicates a greater reliance on tourism for foreign exchange earnings compared to Turkey. This reflects Greece's advantage in attracting international visitors, boosting its economy through increased spending. However, such reliance also exposes Greece to fluctuations in the tourism industry, making its economy vulnerable to global economic downturns. On the other hand, Turkey's lower ratio suggests a lesser emphasis on tourism as a source of income relative to its total imports, providing more diversification in revenue streams. The impact of this statistic on both countries underscores the importance of tourism in their economic development strategies.
FAQs
- Which country has the most International tourism expenditures (% of total imports)?
Answer: Qatar has the highest percentage of international tourism expenditures in relation to total imports, with a value of 19.48%. - Which country has the least International tourism expenditures (% of total imports)?
Answer: Tajikistan has the lowest percentage of international tourism expenditures in relation to total imports, with a value of 0.35%. - What is the average International tourism expenditures (% of total imports) among the listed
countries?
Answer: The average international tourism expenditures as a percentage of total imports among the listed countries is approximately 3.98%. - How are International tourism expenditures calculated in this context?
Answer: International tourism expenditures represent the amount spent by outbound visitors from a country in other countries, including payments for international transport. This value is then expressed as a percentage of the country's total imports. - Why is the analysis of International tourism expenditures important for countries?
Answer: Understanding international tourism expenditures provides insights into the economic impact of tourism, including how much of a country's imports are attributed to tourism-related spending. This data can influence policy decisions related to tourism development and economic diversification.