Even though some general studies exist in service trade, most available research focuses on single industries among which the most studied are banking, insurance, advertising and other professional services, e.g. consultancy. With the GATS, new areas are emerging – in particular health and educational services. In this perspective, tourism is the odd child since it is rarely mentioned in the economics literature. One exception is the study by Eilat and Einav (2004). However, that study is opposite ours based on the central premise in tourism studies being that tourism should be explained from the demand side rather than the supply side.