PLEASE explain this interesting paragraph ?
Recession tourism is a travel trend, which evolved by way of the world economic crisis. Identified by American entrepreneur Matt Landau (2007), recession tourism is defined by low-cost, high-value experiences taking place of once-popular generic retreats. Various recession tourism hotspots have seen business boom during the recession thanks to comparatively low costs of living and a slow world job market suggesting travelers are elongating trips where their money travels further.
This paragraph is describing the notion of recession tourism. Essentially, what it is articulating is that during a recession and times of financial difficulty, tourism is one of the first areas to suffer. It makes sense in that people see tourism and vacationing as a "luxury," and one that cannot be indulged during a time of economic challenge. Yet, over time, individuals have to balance the fact that recessions and economic downturns are not going to resolve themselves overnight. Like all difficult and challenging elements in consciousness, the longer it persists, the greater the chance one becomes more accustomed to its presence. The initial shock and apprehension that was present in the early stages of the economic recession has given way to an understanding that either things are not as bad as intially experienced or that individuals are becoming more used to the idea of economic challenges being present. In the end, these individuals learn how to balance the economic demands of frugality with the luxury indulgence of travel and vacationing. The child of this merger is the notion of "recession tourism," where there is vacationing, but on a smaller and more cost effective scale. Landau points to his own native Panama as one such location where "recession tourism" makes sense. The generic and scenic nature of Panama as well how far the dollar goes in terms of value makes it a "recession tourist" locale because people can still receive the effect of vacationing and tourism without the economic challenge in a time defined by economic hardship.
The message of this paragraph is really quite simple. It is saying that recession tourism is what tourists do when they do not have as much money as they used to.
Instead of going to really fancy places where everything costs a lot of money, tourists have started to go to cheaper places. They have (this says) stopped going to the fancy resorts where you don't really immerse yourself in local culture. Instead, they have started going to places that won't cost as much but where you can really get "high value" -- where you can get a unique experience.