Glossary of Tourism and Economics Terms
Economic Terms
Tariff
A tax levied on goods imported or exported.
Balance of Trade
The difference between a country’s exports and imports.
Balance of Payments
The systematic recording of all financial transactions made during a period of time between a country’s residents and those in the rest of the world.
Wholesale
An activity involving the resale of goods purchased directly from the producer to merchants, processors, or professional users.
Traditional Retail Trade
An activity involving the resale of goods purchased on one’s own behalf directly to the final consumer.
Trade Deficit
A situation where a country’s trade balance is in deficit (imports exceed exports).
Economy (Informal)
Business activities, whether wage labor or otherwise, that are not registered and therefore do not pay taxes and are beyond the control of institutions.
Monopoly
An economic situation where a single entity can offer a product or service exclusively or primarily, allowing it to set prices unilaterally.
Multinational
A large enterprise with significant economic power that has affiliates and operates in several countries.
Gross Domestic Product (GDP)
The total value of goods and services produced over a year in a given territory across all economic activities.
Tertiary Sector
The sector of the economy that includes activities that do not produce material goods but provide services such as transportation, healthcare, or trade.
Quaternary Sector
A subsector within the tertiary sector that encompasses activities requiring a high degree of expertise and specialized training, such as information technology, research and development, and education.
Tertiarization
The process by which a country’s economy becomes increasingly driven by the tertiary or services sector.
Tourism Terms
Highway
Transport infrastructure with separate carriageways for the two directions of movement, characterized by the presence of at least two lanes in each direction.
AVE Train
The high-speed train that reaches the highest speeds in Spanish territory.
Tourist Destination
An area or region that receives a substantial number of tourists and is recognized as such due to its natural, cultural, or business attractions.
Fractional Distillation of Oil
A technique used to separate petroleum products based on their boiling points, allowing for the collection and packaging of individual components.
Ecotourism
Tourism, also known as ecological tourism, that seeks knowledge and enjoyment of different ecosystems with minimal environmental impact.
Seasonality
A characteristic of some economic activities, especially tourism, that experience consistently higher demand during specific times of the year.
Overnight Stay
Spending a night in a particular place, especially away from home.
Natural Resources
Existing products on Earth that satisfy various human needs.
Mass Tourism
A tourism model, primarily focused on sun and beach destinations, characterized by the massive concentration of tourists in coastal areas, often with lower-quality services and pronounced seasonality.
Cultural Tourism
Tourism that seeks the enjoyment of the cultural and artistic heritage of different regions.
Rural Tourism
Tourism that takes place in rural areas, often involving stays in traditional farmhouses or renovated rural homes, with a focus on experiencing and understanding the natural environment and local livelihoods.
Sustainable Tourism
Responsible tourism based on respect for the traditions and lifestyles of the local population and minimizing negative environmental impacts.
Tourism
Travel for leisure or recreational purposes, lasting over 24 hours and taking place outside the individual’s normal place of residence.
Tourist
A person who travels from their residence to another geographic location, being absent from their place of residence for more than 24 hours and spending at least one night at the destination.
Tour Operator
Tourist companies that control a significant portion of the demand for travel and accommodation services, often packaging and selling them as complete tour packages.
Environmental Terms
Acid Rain
Precipitation that carries sulfuric acid and nitric acid, resulting from the atmospheric buildup of nitrogen oxides and sulfur dioxide emitted by factories, vehicles, and other sources.
Wind Maps
Maps that depict the average wind power levels in different geographical areas, used for assessing wind energy potential.
Greenhouse Effect
The process by which solar radiation reaching Earth is absorbed by the planet’s atmosphere and prevented from being fully re-emitted into space, leading to a warming effect.
Alternative Energy
Energy production technologies that are presented as alternatives to conventional or traditional energy sources, often with a focus on renewable and sustainable options.
Secondary or Final Energy
Energy obtained by transforming primary energy sources, ready for use at points of consumption (e.g., electricity).
Primary Energy
Energy sources found in nature that cannot be consumed directly and require processing and transportation before being used for final energy consumption (e.g., fossil fuels, solar radiation).
Tourist Infrastructure
facilities and equipment necessary for the development of tourism.
Acid rain:are the precipitation drag sulfuric acid and nitric acid from the atmospheric buildup of nitrogen oxide and sulfur dioxide emitted by factories, cars … wind maps: mapping the average level of wind power in different geographical areas. Monopoly: economic situation can offer exclusively or mainly a product or service, so its price can be set at substantially unilateral. Multinational: large enterprise and economic power which has affiliates and operates in several countries. Product Gross domestic production total value obtained over a year in a given territory and in all kinds of economic activities. Overnight: overnight stay in a particular place, especially away from home. Protocol: meetings between countries to pollute less . Natural resources: are existing products on Earth that satisfy various human needs. Tertiary Sector: is created to differentiate within the tertiary sector activities within this sector, require a high degree of expertise and training. Sector Tertiary which includes activities that do not produce material goods, but services that serve as transport, health or trade. Tertiarization: The process by which a country’s economy becomes driven by the tertiary or services sector . Mass tourism: tourism model, primarily sun and sand, characterized by the massive concentration of passengers in coastal areas, the poor quality of services and a pronounced seasonality. Cultural tourism is the type of tourism that seeks the enjoyment of heritage cultural and artistic heritage of the regions. Rural tourism: tourism that takes place in a rural, peasant homes or housed in renovated houses and looking for exposure and better understanding of the natural environment and local livelihoods. Sustainable tourism: the is the realization of responsible tourism, based on respect for the traditions and lifestyles of the indigenous population. Tourism: travel, never for work, lasting over 24 hours outside the normal place of residence. Tourist: a person who moves from his residence to another geographic location, being absent from their place of residence more than 24 hours and by night in the other geographic point. Tour Operator: tourist companies control much of demand for travel and accommodation .