Authors: Camilla Jensen and Jie Zhang.
International tourism has become one of the most significant global trade flows. Trade accounts for around 25 % of the total international trade in services. International efforts for trade liberalisation in tourism under the framework of the World Trade Organization or bilateral agreements play a decisive role in its development. Unlike other services, tourism is not a specific type of activity, but an assortment of goods and services consumed by travellers. The most common goods and services covered by this industry are lodging, food and beverages, transportation, gifts and souvenirs, cultural services and sporting, and other recreational services.