lesson 2

Question 1

define globalisation

Answer 1

growing interdependence of countries due to increasing volumes and variety of cross-border transactions in goods, services, and international flows due to rapid and widespread diffusion of technology

Question 2

define glocalization

Answer 2

Process of adapting global produce and ideas to fit local cultures and markets e.g. Mexico have mcburritos

Question 3

Define remittance payments

Answer 3

money often sent from one place to another place abroad, usually between families in different countries-> causes economic leakage

Question 4

Define economic leakage

Answer 4

income generated in an economy is removed from a circulation before it can be used for further economic domestic activities

Question 5

Define global marketing

Answer 5

commercial activities have become globalised where transport and communication links are strong e.g. maccies, clothing industries etc

Question 6

What has happened to the value of international tourism between 2005 and 2015?

Answer 6

doubled- now worth over a trillion dollars

Question 7

Which country received the highest volume of international tourism expenditure in 2019?

Answer 7

China

Question 8

Which continent received more tourist arrivals in 2019 than any other?

Answer 8

Europe

Question 9

What fraction of financial investments are now international transactions?

Answer 9

1/3

Question 10

In the next decade, what do McKinsey and Co predict will happen>

Answer 10

flows could triple due to rising prosperity, globalisation, and the spread of technology

Question 11

List 3 impacts of growing global tourist flows

Answer 11

1. Economic leakage
2. Over tourism- impacts on local communities
3. Countries must consider managing influx of tourists, visiting limits etc

Question 12

3 Factors that affect a global decline in tourist flows:

Answer 12

1. Legal constraints- COVID
2. Financial constrains- 2008 crash, covid- less people worked
3. Security concerns- 9/11, Tunisia 2015

Question 13

How have local tourist flows in the UK changed since the 60s?

Answer 13

60s- 10% of holidaymakers visited overseas
2005- 60% of holidaymakers go abroad at least once a year
June 2020- inquires to UK cottage websites rose by nearly 300% compared to previous year, average rental price rose by 15%

Question 14

How will future tourist flows be impacted by factors like COVID and Brexit?

Answer 14

pre-covid, economic output of tourism industry in UK was £68 mill, 1.5 mill employed in tourism
Unclear how long it will take for tourism to recover now, even after restrictions lifted, still global restrictions d2 other varients