It is considered by some that spending money is a positive benefit for national economic, while there are other who think that people should save money. In my opinion, I believe that it depends on exactly what a country's situation is to decide whether spend money or save it.
Firstly, when it comes to economic development, governments should encourage people, such as tourists, to spend more money in order to stimulate the economy. This is because when the number of tourists purchase products or eat in the restaurants, this supports local business to run their firms efficiently, which influences the increase of a country's GDP growth rate. What is more, many new businesses will open due to high customer demand, apart from creating more job opportunities.
On the other hand, it is widely argued that people should save money for old age as governments can provide much completely social welfare. If too many residents squander money randomly, resulting in falling into debt, governments will need to primarily tackle financial problems as well as they cannot offer assistance to individuals and families in needs. This also brings other detrimental effects, in particular, health care or transportations are hard to be improved due to lack its budget so people should take into account the issues above and save money for their future.
In conclusion, countries economy is related to earn more excise duty from tourists and prevent incurring debt from residents. If people arrange their save and expenditure properly, I believe the country's economy will have positive growth.
It
is considered
by
some
that spending
money
is a
positive
benefit for national economic, while there are
other
who
think
that
people
should
save
money
. In my opinion, I believe that it depends on exactly what a country's situation is to decide whether spend
money
or
save
it.
Firstly
, when it
comes
to economic development,
governments
should encourage
people
, such as tourists, to spend more
money
in order to stimulate the economy. This is
because
when the number of tourists
purchase
products or eat in the restaurants, this supports local business to run their firms
efficiently
, which influences the increase of a country's GDP growth rate.
What is more
,
many
new businesses will open due to high customer demand, apart from creating more job opportunities.
On the other hand
, it is
widely
argued that
people
should
save
money
for
old
age as
governments
can provide much completely social welfare. If too
many
residents squander
money
randomly
, resulting in falling into debt,
governments
will need to
primarily
tackle financial problems
as well
as they cannot offer assistance to individuals and families in needs. This
also
brings other detrimental effects,
in particular
, health care or transportations are
hard
to be
improved
due to lack its budget
so
people
should take into account the issues above and
save
money
for their future.
In conclusion
, countries economy
is related
to earn more excise duty from tourists and
prevent
incurring debt from residents. If
people
arrange their
save
and expenditure
properly
, I believe the country's economy will have
positive
growth.