13.1 Trade
What is a trade deficit?
When the value of a country's imports exceeds the value of its exports.
What is the debt-service ratio?
The proportion of a country's export earnings that it needs to use to meet its debt repayments; Net operating income divided by debt service.
What is factor affecting the level of tourism, involving earthquakes, volcanic eruptions?
Natural disasters.
State a main area(s) of tourism in Jamaica.
Montego Bay, Port Antonio, Negril coral reefs, Ocho Rios, Kingston.
What is NAFTA?
The North American Free Trade Agreement.
What is HIPC?
Heavily Indebted Poor Countries.
What are economic leakages?
When revenue generated by tourism is lost to other countries' economies.
What is ecotourism?
Catering for tourists wishing to experience the natural environment without damaging it.
What is the World Trade Organisation (WTO)?
It deals with the rules of world trade and ensures that trade flows as freely as possible, but often results in protectionism.
What is the multilateral aid?
Aid which is provided by many countries and organised by an international body; eg. the UN, RedCross.
Which continent/region has the highest number of tourist arrivals?
Europe.
What is community tourism/pro-poor tourism?
Tourism that allows more money to filter down to the locals and small communities; often involves inviting tourists to visit the local communities while providing accommodation
What is a comparative advantage?
A factor affecting global trade; an country's ability to produce a particular good or service at a lower cost than its trading partners.
What is odious debt?
When a country's government changes and the successor government does not want to pay debts incurred by the previous government; also known as illegitimate debt.
What is the last two possible stages of Butler's life cycle model of tourism?
The rejuvenation or decline stage (Or stabilisation stage)
What has been the biggest hinderance to the tourism industry worldwide, as of 2020?
Covid-19.
Which African country benefits from the Kuapa Kokoo Fairtrade Cooperative?
Ghana
What is microcredit?
Lending small amounts of money at low interest to new businesses in the developing world.
State a positive environmental impact(s) of tourism.
The preservation of natural habitats, landscaping and afforestation, enforced policies against pollution and waste disposal.
What is the name of the coral reef in Jamaica that NGOs addressed the ongoing degradation of.
The Negril coral reef.