Tourism And Its Effects On Tourism Essay

1893 Words8 Pages
1. Introduction: In today’s world, tourism has become one of the key factors of many countries, which contributes significantly not only to the countries’ economies, but it also helps resolving lots of problems such as employment. According to the World Tourism Organization (WTO), n.d., tourism consists of activities of people travelling and staying in places outside their usual environment for not more than one year for leisure, business, and other purposes. Nevertheless, in order to stay overseas for a period of time, travelers have to use the currency of the country that they are staying by exchanging with their own currency. Business Dictionary (n.d.) defines exchange rate among the currencies as the prices, which is influenced by the interest rates, inflation rate, political stability, and so on. However, the currency exchange rates among countries are changing every day. Consequently, tourism will be affected by the fluctuations, and it is believed that they do have both negative and positive effects on tourism. In this report, the researcher will investigate the following question, “How do USD - NZD exchange rate fluctuations influence New Zealand’s tourism patterns?” in order to provide insights for the New Zealand tourism industry as well as travelers. Research questions: • What is the current situation of NZ’s tourism? • What are the effects exchange rate fluctuations have on tourism? • What are the influences that USD - NZD exchange rate fluctuations have on NZ’s

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