Economics of Tourism

In recent years the economies of the world are diverging from measuring the well-being of the people from the uni-dimensional indicator of income to measuring well-being beyond on the capabilities and freedoms necessary for leading a good life. Well-being is a multi-dimensional concept which includes material living standards, health, education, personal activities, political voice, social connections and relationship, environment and security. The world is moving towards quality of life which depends on people’s objective conditions and capability. Among the different dimensions of well-being, social connections, health and education and material standards are important for the improvement of capabilities and expansion of freedom to lead a meaningful life. This primary shift from production to well-being indicates that sustainable efforts should be devoted to developing and implementing reliable measures of social connections in particular and towards other dimensions in general. Because it is, in recent years, recognized that people are both the beneficiaries and drivers of economic development, as individuals and groups.