THE CURRENT STATE OF THE TOURISM INDUSTRY AND ITS PLACE IN THE MODERN WORLD ECONOMY.

Abstract:

The tourism industry has emerged as a vital sector within the modern global economy, contributing significantly to economic growth, employment, and cultural exchange. This abstract examines the multifaceted role tourism plays in supporting economic development and enhancing the GDP of both developing and developed nations. The industry's influence extends beyond direct economic impacts, fostering infrastructural improvements, promoting global interconnectedness, and encouraging the preservation of cultural heritage. However, it also faces challenges such as environmental sustainability, economic fluctuations, and global crises, including pandemics, which have tested its adaptability and resilience. As the world moves forward, integrating sustainable practices is essential for ensuring that tourism continues to serve as a driver of prosperity without compromising future resources. The analysis underscores that the tourism industry is not just a significant economic engine but also a platform for fostering international understanding and cooperation, positioning it as an indispensable part of the modern world economy.