Balance of payments
- Buying tourist services in another country, these payments are
noted in a country’s accounts as invisibles.
- The money spent by an American visitor to Britain is credited to
Britain’s balance of payments, becoming an invisible receipt for
Britain, while it is debited as a payment against the American
balance of payments.
- The total value of receipts minus the total payments made during
the year represents a country’s balance of payments of the
tourism account.