True, but, while those factors may help, they aren't necessary for a country to have visa-free or visa-on-arrival entry to another country. In general, tourism and business travel benefits the destination country, regardless of whether the country of origin is large, small, or a superpower. For most open societies, these forms of temporary immigration are encouraged. What destination countries do not want tendtends to be the following:
People trying to use tourist or business visitor entry permission to circumvent the country's immigration rules. For example, this would include people who intend to stay in the destination country for an extended period or work there. Almost all countries require a visa to immigrate for such purposes and they don't want people trying to circumvent that process.
People who can't fund their stay. Whether their intentions are to overstay or not, countries don't want visitors who don't actually have the funds they'll need for their stay and, thus, will be likely to try to draw on social programs of the destination country instead of paying for their own needs. And they certainly don't want people who might resort to crime (theft, etc.) to pay for their needs. Not everyone has a reasonable understanding of what it really costs to visit a certain area, especially in the case of people from low cost-of-living areas visiting high cost-of-living areas, so even some well-intentioned visitors may fail on this point.
People who may be a security concern for the destination country. For example, countries obviously don't want members of foreign terrorist organizations, drug runners, or hostile foreign spies entering their country.