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The economics of tourism.

Abstract
 This chapter discusses some concepts and tools in macroeconomics and microeconomics that are most relevant to tourism. One of the most fundamental concepts is the nature of tourism as an economic activity. The World Tourism Organization defines tourism as a demand-side activity, that is, something people do rather than a service or product that businesses produce. This definition builds on some other central concepts such as tourism industries and tourism commodities. The chapter also looks at topics, such as the nature of value, public goods, economic rent and consumer surplus, that are useful concepts for examining a variety of tourism-related phenomena. The chapter concludes with a brief discussion of the nature of different types of taxes relevant to tourism.