Abstract
The tourism industry has become a major driving force for economies and employment generation for many countries all over the world. Evaluation of the impact of this force became the subject of research of numerous academic papers, the authors of which suggest their own set of factors to be taken into account while calculating tourism multiplier. The aim of this paper is to substantiate the necessity of extension of number of factors by including the regime of exchange rate. Such extension, besides clarification of calculations, should provide governments of hosting countries with additional economic tools.
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