Like any other industry, the tourism industry is hugely influenced by macroeconomic factors. This is even highlighted as the world is rapidly becoming more integrated due to globalization. In order to dully understand the current macroeconomic factors shaping international tourism, the PEST framework which deals with the political, economic, sociocultural, and technological factors needs to be examined.
This project was adhered to by 22 countries and stretches 12,000 km. Another is the creation of Task Force for Destination management which is a move to further decentralize tourism administration in a global scale. Some concerns of the task force include: management of congestion at coastal destinations; economic measurement of tourism at the local level; destination marketing for cities; information and communication technologies; human resource development; and risk and crisis management at individual tourism destinations. This has significantly improved tourism destinations especially in emerging economies.
It is irrefutable that tourism depends on the economic conditions of different nations. Currently, this is reflected by the tourism activities of the growing economies like China, India, and Brazil. As economies grow, it is often expected that the level of disposable income also rises and a significant portion of this increase in income will be spent on tourism. This fact is mirrored by the current trend in tourism. As more emerging economies are growing, there is a stronger demand for tourism. According to the World Tourism Organization, tourism for leisure surpasses tourism for business purposes in 2005.