Title: Evaluate the effects of travel and tourism on local, state, national, and international economies.
Course: Travel and Tourism Marketing (16151) > Section: Understanding the Economic Importance of Travel and Tourism

Evaluation should

- defining economy and categorizing the core economic systems
- identifying local and regional agencies that promote travel and tourism
- identifying major local, state, and national events and attractions
- assessing local, state, and national travel statistics
- explaining the concept of supply and demand
- describing the four phases of a business cycle
- identifying local and state regulations that affect lodging operations
- identifying the economic value of tourism and how it contributes to the community's tax base.

Process/Skill Questions:

- Why is an accurate interpretation of travel industry statistics important?
- What role do local hospitality taxes play in the economy?
- How does tourism influence local job markets?
- How do the concepts of business cycles, supply and demand, and government regulation affect the travel industry?
- How do tourism dollars flow through a local economy?
- What is the role of a convention and visitor bureau (CVB)?
- How does the travel and tourism industry affect the gross domestic product (GDP)?
- How can dependence on the travel industry have negative effects on a locality?