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This text examines the economics of the travel and tourism sector and identifies the special factors within tourism which distinguishes its analysis, in economic terms, from other activities. This edition includes updated economic statistics on tourism, reflecting changes in commercial and political patterns. In addition, references to recent research in tourism economics are included and the book incorporates extra discussion on some topic areas such as investment in hallmark events. A number of case studies are also included, with discussion questions to enable empirical consideration of the material presented in the text.