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GDP
Total value of all goods and services created by a country per year.
MEDC
More Economically Developed Country, characterized by a high GDP.
LEDC
Less Economically Developed Country, characterized by a low GDP.
Globalization
The increasing interconnectedness and interdependence of economies, societies, and cultures.
Positive impacts of globalization
Increased interconnection, accessibility, and cultural exchange.
Negative impacts of globalization
Changes in the way people work, overreliance on other countries, potential conflicts, reliance on technology, and inflation.
Tourism
The activities of visitors traveling to see places outside their normal environment.
Export
International tourists’ spending on goods and services contributes to a country's economy like traditional goods.
Recreational tourism
Tourism where individuals travel for enjoyment and relaxation.
Historical tourism
Tourism focused on visiting historically significant sites.
Wilderness tourism
Tourism that emphasizes natural environments.
Ecotourism
Type of tourism aimed at conserving the environment.
Cultural tourism
Tourism focused on experiencing different cultures.
SHEEPT factors
Social, Historical, Environmental, Economic, Political, Technology factors attracting tourists.
Economic benefits of tourism
Creates money for the country’s economy and promotes cultural exchange.
Negatives of tourism
Environmental damage, cultural erosion, overcrowding, rising costs for residents, and seasonal job exploitation.
Global interconnection
The way people, goods, money, and information move across the world.
Natural barriers
Geographical obstacles like mountains and rivers that complicate travel and trade.
Human barriers
Tariffs, trade restrictions, and government policies that hinder trade and communication.
International trade
Exchange of goods and services across national borders.
Trade barriers
Tariffs, quotas, and subsidies that limit international trade.
Digital connections
Connections made through the internet, social media, online shopping, and communication technologies.
Digital divide
Gap between those with access to digital technology and those without.
Indicators of the digital divide
Internet users, mobile subscriptions, cost of access, and digital literacy.
Spiritual connection to place
An emotional or spiritual link individuals have with specific locations.
Economic connection to place
A job or income dependent on a specific area.
Cultural connection to place
Shared language and customs that link people to locations.
Historical connection to place
Emotional attachment to places based on past events.
Impact of the Internet on connection
Enables instant communication, crucial for social interactions and during emergencies.
Online global services
Access to worldwide products, media, and services, including e-commerce.
E-commerce
Online buying and selling of goods and services, worth around $8 trillion globally.