Tourism is a major sector of the global economy, with global receipts from international tourism surpassing most other economic sectors. In many developing and least developed countries, tourism activities are many times more important than manufacture or agriculture in terms of participation and economic activity. At the same time, however, tourism is a highly vulnerable economic activity, dependent on a number of factors, some of which are beyond the control of developing countries. Global events (related to international politics, health-related risks, climate factors, etc) may have a detrimental impact on the performance of the sector. Other factors, however, are policy-dependent and in this connection adopting a coherent developmental framework for trade in tourism services becomes a crucial issue, particularly for those countries with high economic dependence on tourism.