Why is tourism spending to be an invisible export?
Tourism spending is considered an invisible export because it involves the provision of services to non-resident visitors, rather than the physical export of goods. When foreign tourists visit a country and spend money on goods and services, such as accommodation, meals, transportation, and entertainment, they are essentially exporting money to that country. This inflow of foreign currency contributes to the country's economy and helps boost its balance of payments.
In contrast, visible exports refer to the physical goods that a country exports to other countries, such as manufactured products, agricultural commodities, or natural resources. These goods are shipped across borders and can be tangible and visible.