Government Incentives in Tourism Development

Tourism is becoming important part of every economic development plan in many countries around the world. There are many places that are visited and becoming more attractive for tourists and travelers, and places which years ago were unattractive to many, now are becoming the most desirable destinations. No one could ever think that even space or the moon would become a destination. Now, there is even a waiting list for visiting both. Tourism is unique as a service industry. What distinguishes it from other sectors is the place of production is the same as the place of consumption; hence, it is the destination. However, in the beginning some places are not destinations intended for tourists and travelers from the beginning. At first, it is a habitat familiar to its local population, and only through interventions (initiatives and incentives), it is able to be transformed in a desirable destination. As tourism is gaining in importance, good planning and strategies are essential for the destination to gain the maximum economic and social wealth form it. The importance of tourism in the economy is enormous and it is often referred as one of the largest industry in the world.