TOURISM AND ECONOMIC GROWTH IN NIGERIA
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
Abstract
The study examined the impact of tourism earning on economic growth in Nigeria between 1996 and 2016. The study sought to ascertain the vibrancy of tourism industry on the Nigerian economy. A model was specified in which tourism earning, inflation rate and exchange rate are expressed as a linear function of economic growth (proxy by real GDP). The econometric techniques of Augmented-Dickey Fuller test, Johansen Cointegration test and the Error Correction Model. The results showed that exchange rate, real GDP and tourism earning were stationary at first-order difference while inflation rate was stationary at zero-difference. The cointegration result affirmed a long-run equilibrium relationship between the variables. The ECM result showed that the speed of adjustment from short-run equilibrium to long-run equilibrium is 15%. Tourism earning and inflation rate had positive effect on economic growth but exchange rate exerted negative effect. However, none of the variables has significant influence on economic growth in Nigeria.
The study therefore maintains that although tourism earning contributed to economic growth between 1996 and 2016, its effect on economic growth is slender.
The study concluded that tourism sector positively but minutely contributed to economic growth in Nigeria between 1996 and 2016.
The study suggest that; Infrastructural Development: Infrastructures such as water, power, communication, transportation and healthy and safety services, should be developed and provided in a way that would minimize the ecological footprints of tourism, and to a standard, encourage local and international tourism; Active Promotion Policies and Marketing Strategies: Tourism should be actively promoted through appropriate policies and planning while at the same monitoring and dealing with possible negative effects of tourism on the local economy. Government should step up to play an active role in the development of tourism. This is essential because the tourism industry cannot act alone; Data Collation on Tourism: In most tourist destination in Nigeria, there is lack of reliable data on tourism. Such data are important in planning and allocating resources in the tourism sector; Encouragement of Tour Training and Education: Effective training and education should be provided in order to create professionalism in the industry towards efficiency in service delivery.
Related Project Materials
The Effect of Digital Diet Monitoring on Weight Loss Success Rates in Kwara State
Background of the Study
The global rise in obesity and overweight-related health issues has necessita...
The role of waste management in disease prevention in Borno State
Background of the Study:
Effective waste management is integral to preventing the spread of diseases and protecting public...
The Effect of IFRS on Sustainability Reporting in Nigerian Oil and Gas Companies
Background of the Study
Sustainability reporting has become a critical aspect of corporate transparency, particularly fo...
The Impact of Nurse-Led Mental Health Awareness Programs on Stigma Reduction at Federal Medical Centre, Sokoto
Background of the Study
Mental health issues in Nigeria are often stigmatized, leading to delays in seeking care and inadequate treatment...
IMPACT OF COOPERATIVE LEARNING STRATEGY ON PROCESS SKILLS ACQUISITION AND PERFORMANCE IN CHEMISTRY AMONG SECONDARY SCHOOL STUDENTS, ALIERO KEBBI STATE, NIGERIA
ABSTRACT
This study investigated the impact of cooperative learning strategy on proces...
THE EFFECT OF POOR ATTITUDE OF TEACHING IN NIGERIA
Abstract
This study was carried out on the effect of poor attitude of teaching in Nigeria. Teacher’s attitude towa...
The impact of urban gentrification on low-income households in Ibadan South-West Local Government Area, Oyo State, Nigeria.
Background of the Study
Urban gentrification has become a significant urban phenomenon that reshapes neighborhoods, often...
THE ROLE OF FINANCIAL LITERACY EDUCATION IN VOCATIONAL TRAINING
Abstract: The role of financial literacy education in vocational training is crucial for eq...
. An Appraisal of Market Adaptation Strategies in Investment Banking: A Case Study of United Bank for Africa
Background of the Study
Market adaptation strategies enable investment banks to remain competitive by adjusting their opera...
IMPACT OF AGRICULTURAL OUTPUT ON NIGERIAN ECONOMY
Background of the study
One of the important objectives of macroeconomic policy in has been the rapid economic growth of...
