This paper examines the effects of tourism in a dynamic model of trade on unemployment, capital accumulation and resident welfare. A tourism boom improves the terms of trade, increases labor employment, but lowers capital accumulation. The reduction in the capital stock depends on the degree of...

Tourism is considered as one of the most exciting and progressive industry, which has a big impact on all other industries as well. After independence, Government of India took to planned economic development of the country and adopted both the capitalist and socialist models. Thus, the...

Tourism is considered as one of the most exciting and progressive industry, which has a big impact on all other industries as well. After independence, Government of India took to planned economic development of the country and adopted both the capitalist and socialist models. Thus, the...