Items included in the GDP: consumption: products and services purchased by households, such as private cars purchased by households; investment: fixed investment in enterprises, fixed investment in housing, investment in inventories. For example, business investment in machinery and equipment, households buy houses; government procurement: government procurement expenditures, such as defense expenditures. Net exports: the difference between exports and imports. Extended data: GDP accounting methods: i.e., production method, income method, and expenditure method, reflecting the results of the national economy's production activities from different perspectives. Theoretically, the accounting results of the three methods are the same. The production method is a method of measuring the newly created value of resident units during the accounting period from the perspective of production, i.e., from the total value of products produced by the various sectors of the national economy during the accounting period, by deducting the value of intermediate products invested in the production process, thus obtaining the value added.
Tourist attractions certainly create wealth. If GDP is included in the production method, it is counted as value added in the tertiary sector. If the expenditure method is used, consumption can be calculated.GDP is defined as the value of all final goods and services produced by the economy of a country or region over a given period of time. Therefore, household consumption is also included in GDP.When GDP grows normally, prices rise moderately; when GDP grows too fast, it triggers inflation and prices accelerate. When GDP growth slows down or even declines, prices may fall back, creating deflation. Consumption is part of GDP, and rising prices will stimulate consumption.
Items counted in GDP: consumption: products and services purchased by households, such as private cars purchased by households; investment: fixed investment in businesses, fixed investment in housing, investment in inventories. For example, business investment in machinery and equipment, households buy houses; government procurement: government procurement expenditures, such as defense expenditures. Net exports: the difference between exports and imports. Extended data: GDP accounting methods: i.e., production method, income method, and expenditure method, reflecting the results of the national economy's production activities from different perspectives. Theoretically, the accounting results of the three methods are the same. The production method is a method of measuring the newly created value of resident units during the accounting period from the perspective of production, i.e., from the total value of products produced by the various sectors of the national economy during the accounting period, the value of intermediate products invested in the production process is deducted to obtain the value added.
The accounting formula is: value added = total output - intermediate inputs. The income method is an accounting method that reflects the final result from the point of view of generating income in the production process, according to the share of income of the factors of production in the production process. According to this method of accounting, value added is obtained by adding four components: labor compensation, net production tax, depreciation of fixed assets and operating surplus. The expenditure method measures the final destination of products and services during the accounting period from an end-use perspective and includes final consumption expenditure, gross capital formation and net exports of goods and services.