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The System of National Accounts and its Treatment of Tourism

The System of National Accounts and its Treatment of Tourism. Winfield Griffith Caribbean Tourism Organization. Introduction. International Definition of Tourism Traveling to and staying in places outside usual environment Stay no more than one year

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The System of National Accounts and its Treatment of Tourism

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  1. The System of National Accounts and its Treatment of Tourism Winfield Griffith Caribbean Tourism Organization

  2. Introduction • International Definition of Tourism • Traveling to and staying in places outside usual environment • Stay no more than one year • * UN/WTO Recommendations on Tourism Statistics - 1994

  3. Tourism a Substantial Economic Phenomenon • Grown in enormous proportion over the last two decades • Boosting Domestic Value Added • Employing large numbers • Providing much of the foreign exchange earnings • Contributing significantly to government revenues • Generating investment capital

  4. State of Tourism Economic Statistics • Scanty and often non-existent • Limited for users (Governments, businesses and others)

  5. Requirements for Economic Statistics of Tourism • Greater regularity – preferably on continuous basis • Greater reliability • Greater internal consistency and international comparability

  6. Nature of Tourism Economic Activity • Demand oriented • Supply created in response • Best studied within a macro-economic accounting framework

  7. Tourism and the SNA • Towards an integrated framework the SNA provides: - guidelines • concepts • Definitions • Classifications • Accounting rules • Accounts and tables

  8. SNA Presents • Production Accounts • Income and Outlay Accounts • Capital Formation Accounts • Flow of Funds

  9. What is a Tourism Satellite Account? • Account of Macroeconomic Aggregates • Describing size and importance of tourism • Value Added and GDP • Detailed data on tourism consumption and the components of its matching supply – domestic supply and imports • Set within the supply and use tables of the SNA • Current and constant prices • Detailed Production accounts of the industries of tourism • Incl. Employment, inter-industry linkages and capital formation

  10. What is a Tourism Satellite Account?(cont’d) • Basic information for Tourism Economic Impact assessment models • Link economic and other quantitative information – e.g arrivals, length of stay, etc

  11. Rationale for a Tourism Satellite Account (TSA) • National Accounts concepts specific • Tourism activities cross-cutting

  12. TSA Manual • Provides framework only • Recommendations not set in stone • Countries must use initiative • Determine own characteristic and non-characteristic products • Recommended guide SICTA and TPC

  13. Definitions of Tourism • Domestic Tourism – Travel within own country • Domestic Tourism Consumption • Inbound Tourism • Outbound Tourism • Internal Tourism & National Tourism • International Tourism

  14. Other important definitions • Establishment; Industry/activity & sector • Tourism Characteristic • Tourism Connected • Tourism Specific • Tourism Consumption

  15. Content of the TSA • Presented in 10 summary tables • 1. Inbound Tourism Consumption by product • 2. Domestic Tourism Consumption by product • 3. Outbound tourism consumption by product • 4a. Total tourism consumption by product • 4b. Tourism consumption by products and forms of tourism • 5. Production accounts of the tourism industries

  16. Content of the TSA (cont’d) • Presented in 10 summary tables • 6. Supply of services and tourism consumption of services by products • 7. Employment in the Tourism Industries • 8. Tourism Gross Fixed Capital Formation • 9. Tourism Collective consumption • 10a Physical Indicators • 10b.Number of establishment according to number employed

  17. TSA Extensions • Regional Accounts • - a large country phenomenon • - implies discrete or independent administrative units • Quarterly TS indicators • - allows observation of seasonality

  18. CONCLUSION • Importance of economic framework for vital tourism activity recognised • Methods suggested and guidelines indicated • Need to assess our psychological and physical readiness to go forward.

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