has become an important source of income for many regions and even entire countries. The Manila Declaration on World Tourism of 1980 recognized its importance as "an activity essential to the life of nations because of its direct effects on the social, cultural, educational, and economic sectors of national societies and on their international relations."
Tourism brings large amounts of income into a local economy in the form of payment for goods and services needed by tourists, accounting as of 2011 for 30% of the world's trade in services, and for 6% of overall exports of goods and services. It also generates opportunities for employment in the service sector of the economy associated with tourism.
The hospitality industries which benefit from tourism include transportation services (such as airlines, cruise ships, trains and taxicabs); hospitality services (such as accommodations, including hotels and resorts); and entertainment venues (such as amusement parks, restaurants, casinos, shopping malls, music venues, and theaters). This is in addition to goods bought by tourists, including souvenirs.
On the flip-side, tourism can degrade people and sour relationships between host and guest.