Tourism and economic recovery

Abstract

Tourist sector in BiH has positive trends in all important growth indicators in the past decade, however, the space for using further its potential is still huge. With its natural resources and potential for outdoors tourism, rich natural and cultural heritage, good geographic location, internationally known events, excellent cuisine for reasonable prices and status of a still unknown tourism destination for main tourist generating markets, BiH has all predispositions for exceptionally successful tourism.

Tourism is, certainly, a very important source of foreign exchange and for this reason is classified in favored export industries. For countries which, first of all, are outstanding as significant receptive tourism countries on the international tourism market, foreign exchange in?ow from tourism represents the most important item of revenue in the balance of payment and a very strong factor in overall economic development.

Tourism is an extremely important component of the national economy. It is a sector whose importance cannot be quantified precisely since it is related to almost all aspects of the society. One of the basic functions of tourism is its direct and indirect impact on the growth of gross domestic product. Along with the strengthening of its economic aspect the employment is being encouraged, a?ects creating new jobs which is re?ected in the improvement of general standard of living. In a unique way it encourages development of other complementary activities and contributes to the overall GDP.