Importance of Tourism to the Nigerian Economy

Importance of Tourism to the Nigerian Economy is discussed in this article. This, in turn, will point to…

Importance of Tourism to the Nigerian Economy is discussed in this article. This, in turn, will point to the need to improve tourism in Nigeria.

Economic Contribution of Tourism in Nigeria

Importance of Tourism to the Nigerian Economy
Importance of Tourism – Photo Source:

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Considering the wealth of our multi-ethnic cultural heritage, tourism has several economic potentials that lie fallow and need to be unharnessed and explored.

Tourism has to deal with temporary migration to another geographical location where the populace who may be of a different race or the same but have a culture that is different from yours or/and a very pleasant environment that favors sight-seeing or businesses or for mere relaxation for a period of time which is no longer than a year.

Year after year, it cost many Nigerians a leg and an arm to take tourist vacations outside the country mostly because the tourist attractions in Nigeria which could have been cheaper alternatives are not given attention or adequately developed. This article will expound on the importance of tourism to the Nigerian economy.

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Importance of Tourism to the Nigerian economy

1. A diversification option

In the last few years, the Nigerian government has been taking steps towards diversifying our mono-base oil economy. There has been a clarion call sent forth to nationals, private investors, and international public investors to consider making investments in the country.

Several steps have been taken in promising sectors like agriculture but tourism has not received as much attention as it needs to contribute its quota to the economic diversification dream.

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2. Financial returns and proceeds to Nigeria

Income can be tremendously generated from tourism for Nigeria as a whole and also the host community in which the tourist centers or attractions are found.

This will go a long way to reducing the number of poor people in the country and improving their standard of living.

3. Tourism has a promising opening for subsidiary firms which will make for job creation

With viable tourism in Nigeria, souvenir shops will open across the country, especially in areas where close to tourist attractions, flight, and international travel agencies will have more patronage and hence need more employees, and car renting or more ordered commercial intra-city transport companies will open up and more sophisticated hotels to accommodate tourists will be built and all these will increase the number of jobs available, thereby reducing unemployment.

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4. An investment in tourism can help us fill our national infrastructural deficits

Inadequate infrastructure has been a major problem and discouragement to private firms and individuals who intend to own investments in some parts of the country.

But if tourism gets adequate attention and a particular community with a tourist attraction or center does not have a feeder road, the Federal Government will make arrangements to fix it, in order to ensure that tourists can access the place without hassles.

5. Tourism creates yet another platform for foreign exchange in Nigeria

Tourists are not always locals, they are more often than not, people who come from overseas and in different parts of the world. The money they pay for tourist services goes along to increase the value of our currency while increasing our revenue.

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