Money circulates in the community when tourists spend money on accommodation, food and beverages, activities and attractions, and transport. This phenomenon is known as:
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Answer:
Multiplier Effect
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The multiplier effect, which is simply the number of times a tourist's spending money is recirculated through the economy of a nation, is what is being referred to here.
Explanation:
- The multiplier effect, which is simply the number of times a tourist's spending money is recirculated through the economy of a nation, is what is being referred to here.Direct job creation occurs in the hotel as a result of hotel revenue, but indirect job creation occurs throughout the economy as well.
- People from all walks of life can benefit from opportunities provided by the tourism industry, which also supports vulnerable populations including minorities, young people, and women.additional tolerance and peace.
- An engine for peace is tourism.As individuals gain knowledge of and a deeper appreciation for one another's cultures, it fosters tolerance among them.As a result of their spending, tourists generate direct income, tax revenue for the government, and jobs. They also spend money on housing, food, drinks, and retail stores.
To learn more about multiplier effect refer
https://brainly.in/question/8900254
https://brainly.in/question/21508331
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