science-review.ru
Scientific journal
Научное обозрение. Экономические науки
ISSN 2500-3410
ПИ №ФС77-57503
ISSN 2500-3410
ПИ №ФС77-57503
INTERNATIONAL TOURISM: THE GREAT PROSPECTS OF SMALL OPEN ECONOMY OF JORDAN
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We studied the specifics and perspectives of development of the tourism sector in the small open economy of Jordan and investigated the role of international tourism in the economic development of the country in the article. We analyzed the characteristics of the recreational potential of Jordan. The role of Jordan as a center of medical tourism in the Middle East was determined. Basing on the study of the structure of international tourist arrivals in Jordan, we proved the importance of regional cooperation in the development of international tourism in Jordan. We identified the impact of the tourism industry on the economic development of the Kingdom of Jordan, which demonstrates direct, indirect and induced effects. It is established that exports associated with the arrival of tourists is a key component of the direct contribution of travel and tourism to the GDP of Jordan. Comparison of the significance of tourism industry contribution to the development of the Jordanian economy with the average for the world economy showed that, in general, the significance of this sector for the small open economy is rated higher than the average for the world economy (the only exception is an indicator of the contribution of tourism to the total volume of capital investments). We argued that the prospects of the Jordanian economy growth, as well as its further participation in the international division of labor are associated with the development of the tourism industry.