Holiday is the travel for recreation, leisure, religious, family business purposes, usually of a limited duration. Holiday is commonly associated with trans-national travel, but may also refer to travel to another location within the same country. The National Holiday Organization defines tourists as people "traveling to and staying in places outside their usual environment for not more than one consecutive year for leisure, business and other purposes".
Holiday has become a popular global leisure activity. Holiday can be domestic or international, and international Holiday has both incoming and outgoing implications on a country's balance of payments. Today, Holiday is a major source of income for many countries, and affects the economy of both the source and host countries, in some cases it is of vital importance.
Holiday is an important, even vital, source of income for many countries. Its importance was recognized in the Manila Declaration on World Holiday of 1980 as "an activity essential to the life of nations because of its direct effects on the social, cultural, educational, and economic sectors of national societies and on their international relations."
Holiday brings in large amounts of income into a local economy in the form of payment for goods and services needed by tourists, accounting for 30% of the world's trade of services, and 6% of overall exports of goods and services.It also creates opportunities for employment in the service sector of the economy associated with Holiday.
The service industries which benefit from Holiday include transportation services, such as airlines, cruise ships, and taxicabs; hospitality services, such as accommodations, including hotels and resorts; and entertainment venues, such as amusement parks, casinos, shopping malls, music venues, and theatres. This is in addition to goods bought by tourists, including souvenirs, clothing and other supplies.