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The concept that an increase in spending leads to an incremental increase in national income and consumption greater than the initial amount spent. In tourism, it relates to how tourist expenditures circulate through a local economy, creating additional economic activity and employment.

Refers to the portion of money spent by tourists that is not retained in the destination country, often due to imports or sending profits back to foreign investors. This lessens the potential economic impact of tourism.

A standard statistical framework to measure the direct economic impact of tourism in a systematic and comparable way. It emphasizes the role of tourism consumption, the tourism industry, and tourism investment.

The cost of forgoing the next best alternative when making a decision. In tourism policy, it refers to the potential benefits that a community or economy misses out on when choosing tourism investment over other sectors.

Refers to the maximum number of visitors that a destination or environment can sustain before negative impacts become unacceptable. In economic terms, it relates to the potential for over-tourism to damage a destination's long-term viability.

Spending on key facilities, structures, and services necessary to support tourism, such as transportation, accommodations, and attractions. Critical for the destination's ability to attract and sustain tourism.

Refers to the fluctuations in tourist activity throughout the year due to various factors like weather, holidays, or events. It's a challenge for tourism management and economic planning as it causes variability in employment and income.

The attribute that allows a destination to outperform rivals. In tourism, a destination can gain economic advantage through unique attractions, quality services, or cost efficiency.

Tourism that meets the needs of the present tourists and host regions while protecting and enhancing opportunity for the future. It's crucial to economic planning in ensuring the long-term health and wealth of the tourism sector.

A measure of how the quantity demanded of a good is affected by a change in income, defined by the percentage change in quantity demanded divided by the percentage change in income. It's relevant in tourism for understanding how changes in economic conditions affect travel demand.

The strategic promotion of a destination to targeted travelers, typically through campaigns and partnerships, to increase the economic benefits from tourism.

The value of one currency for the purpose of conversion to another. For tourism, it affects the affordability of travelling to a destination and the economic impact of foreign spending in the local economy.

The immediate benefits derived from the spending of visitors on goods and services in the destination, which includes creating jobs and generating income.

The secondary effects of tourism spending, which occur when money spent by tourists in the destination is re-spent in the supply chain of the local economy for goods and services.

The tertiary effects of the tourist dollars as employees in the tourism industry and related sectors spend their wages on local goods and services.

The set of rules and regulations that govern the development and management of tourism activities within a destination. It ensures sustainable economic growth and controls the quality and type of development.

Encompasses all spending associated with a visit to a destination, including pre-trip, during, and post-trip expenditures. It's broader than just tourism, including all visitor-related economic activity.

A variable pricing strategy, based on understanding, anticipating, and influencing consumer behavior to maximize revenue from a fixed, perishable resource (e.g., hotel rooms). Key in maximizing the economic returns from tourism.

The value cultural heritage, arts, and other manifestations of culture hold as a potential economic resource. It's relevant to tourism through the attraction of visitors to cultural sites and events.