ISSUE 2018, No. 2, Article 7, Year of publication: 9, June, 2018
Tourism and trade as complementary factors
of growth and economic development
AUTHOR
Momir Lazarević, PhD*
*Assistant Professor, University of East Sarajevo, The Faculty of Economics, Department for Тourism and Еcology
ABSTRACT
ARTICLE INFO
Tourism is a set of relationships and phenomena arising from the travel and stay of visitors in a place, if this stay is not based on permanent
residence and if it is not related to the performance of an economic activity. The term “tourism” was first recorded in the dictionary of
the French philosopher, doctor, politician and lexicographer Emil Litrea in 1873. A tourist is any person traveling for 24 hours or longer in a
country or part of his / her country, where he / she does not have a place of residence, i.e. a permanent residence, in order to satisfy various
tourist needs. Trade is one of the oldest economic activities. It was created in the original human community shortly after the creation
of livestock breeding. Consumption of domestic tourists does not differ significantly from the personal consumption of the population.
However, as additional, the consumption of foreign tourists (since it results in the spill-over of national income from abroad to a specific
tourist country) has multiplicative effects on the economy. Namely, the multiplicative effects of tourism are based on the fact that the
funds of tourist spending, after their basic circulation, continue to circulate in the economy and thus affect the overall economic situation
in the country, until the moment when through import, travel of domestic population abroad and withdrawal of money from circulation in
the form of savings, they “run out of the bloodstream” of the national economy.