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THE WORLD BANK AND DEVELOPMENT OF WORLD TOURISM
Abstract
The World Bank is the largest global source of financial resources for different kinds of investments, with special attention devoted to developing countries and all other countries which request assistance. It annually grants over USD 20 billion of different kinds of loans and credits to the EU Member States. Among other investments, it also significantly participates in tourism development of less developed countries at the global level. As a result of globalisation changes in the world, the World Bank has become a strong financial factor whose business operations are oriented to all business sectors, and this especially refers to development of world tourism. Business activities of the World Bank keep expanding and changing former business habits, behaviours and thinking patterns. In its business activities, the World Bank connects large multinational companies which possess growing economic and political power with certain developing countries. For example, financial results of only one large corporation are several times higher than national budgets of many world countries. In its activities, the World Bank devotes special attention to tourism development in developing countries, mostly located in Asia and Africa, and to these countries, this is the only way to realise foreign currency income and settle their high debts. This kind of activity in the above-mentioned countries has proven very successful and stimulated strong economic activity. The conclusions of this paper are that the World Bank provides all forms of financial aids and preparation for education of employees who would be able to accept and further develop granted and realised projects by the World Bank, but also able to prevent harmful consequences which originate from ignorance and primitivism. Tourism is one of the first economic branches which stimulated creation of new economic processes. Tourism creates large international hotel chains, fast food chains, transport companies, etc. At the same time, it trains suitable employees, managers and workers alike.
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