Some aspects of the investment problem in tourism

It is impossible to generalise in regard to investment and capital development in the tourist industry. The industry does not exist as such, except when seen through the eyes of the traveller. Each main section operates independently and often in opposition to the other component trades. There is a further difficulty. Many of the units in the industry, particularly the larger ones in the transport section, provide a public utility service for the resident community as much as for the mobile community of travellers. Although when considering the problem as a whole certain general principles may apply throughout, each section must be studied separately.