Leisure Tourism in Switzerland Project for Microeconomics Term Paper

Leisure Tourism in Switzerland Project for Microeconomics - Term Paper Example ntry remains active in the United Nations and other international organizations and yet manages to retain strong commitments towards being a neutral entity. Here are some important facts about the country (Cowan, 2005: 7). Gross Domestic Product $659.3 billion (2011) Gross Domestic Product Growth Rate 1.10% (2011) Population 7.912 million (2011) Life Expectance 82.70 years (2011) Median 41.3 Land Area 40,000.0 Unemployment Rate 3.10% Economic Performance The per capita GDP growth in Switzerland was 1.6 in 2011, according to a report published by the World Bank in 2012. The annual percentage of the per capita GDP growth rate has been calculated based on the stable local currency (Frank, 1964:21). Figure 1. Per capita GDP growth (annual %) in Switzerland (Source: World Bank) The real gross domestic product (GDP) in Switzerland has increased by 1.10 % in the first quarter of 2013, as compared to the same quarter of the last year. The annual real GDP growth rate in the country has been r eported by the State Secretariat for Economic Affairs. From 1981 to 2013, the real GDP growth rate has been averaged at 1.66 percent. An all-time record high of 7.30 percent was reached in March of 1990. Here it should also be mentioned that a record all-time low of -3.70 was reached in June 2009. In the country, the annual growth rate in GDP shows the change in the value of the services and goods produced by the economy of the nation during the period of a year (Henry, 2008:51). Figure 2: Real GDP Annual Growth Rate of Switzerland (Source: State Secretariat for Economic Affairs) Although labor productivity continues to be the preferred choice, various economists also tend to think in terms of the total factor productivity, or TFP. The total factor productivity of the country has gone down... This paper presents a comprehensive economic analysis of the structure of Swiss economy and assesses the influence of the tourism industry performance on overall economic indicators. The real gross domestic product (GDP) in Switzerland has increased by 1.10 % in the first quarter of 2013, as compared to the same quarter of the last year. The annual real GDP growth rate in the country has been reported by the State Secretariat for Economic Affairs. From 1981 to 2013, the real GDP growth rate has been averaged at 1.66 percent Although labor productivity continues to be the preferred choice, various economists also tend to think in terms of the total factor productivity, or TFP. The total factor productivity of the country has gone down in the last year or so. Since the major recession, there was a downward and upward trend in 2009. The majority of exported goods are shipped to a number of countries from where the imported goods come in. Most of the import trade partners of the country are the industrialized countries such as Italy, Germany, France, Netherlands, USA, Great Brittan, Japan, According to a report published by the International Monetary Fund, the gross fixed investment of the country in 2012 was 20.6%. A part from this the expenditure of the foreign guests in the country has the same effect on the balance of payment of the nation as the export of goods and services. Tourism industry contributes 6% to the country’s GDP. This is the very reason due to which sometimes tourism is referred to as an invisible export.