Travel: One Export Never Leaves Home

What is the most important commodity in the world's $132 billion annual volume of international trade? Oil? Steel? Cotton? No, it is an export that is sold at home: tourism. This year it will grow by almost 10%. Some 60 million international tourists will spend $9 billion, which in turn will generate $29 billion in wages, purchases and taxes in the countries they visit. Already such countries as Italy, Spain, Austria and Ireland earn more from tourism than any other export.

Spectacles & Toilets. Tempting tourists to spend in 1964 are many...

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