Blessing or Curse? The Rise of Tourism?Led Growth in Europe's Southern Periphery

Despite being one of the world's major internationally traded services, tourism remains neglected within debates on European integration and growth models. We highlight rise tourism-led in southern Europe argue that process has been a double-edged sword, simultaneously incentivizing forcing economies to reap their comparative advantage tourism. While created preconditions for expansion intra-European tourism, monetary pre-empts macroeconomic management. Since eurozone crisis, internal devaluation fiscal austerity have suppressed domestic drivers, inducing these governments towards an export-led strategy. document emergence unprecedented tourism-related current account surpluses Europe, driven strongly by imports from EMU core countries UK. Thus, while different strategies now coexist EMU, Europe's excessive reliance international comes with severe pitfalls.