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Tourism Development in Nigeria: Implications for Economic Growth and Diversification

Author

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  • Segun Subair Awode

    (Nigerian Institute of Social and Economic Research, Ibadan, Nigeria)

Abstract

This study explored the potentials of the Nigerian tourism sector for economic growth and economic diversification. The study employed annual secondary data covering the period between 1995 and 2019, analysed using both descriptive and econometric approaches. Results showed that the performance of the tourism sector in Nigeria has been unimpressive but potentials abound. Security, electricity and air transport infrastructure were found to be positive determinants of tourism development, while a growth-led tourism development hypothesis was confirmed for Nigeria. The findings are compelling to suggest that investing in Nigeria's economic growth could be the first step in stimulating tourism development.

Suggested Citation

  • Segun Subair Awode, 2022. "Tourism Development in Nigeria: Implications for Economic Growth and Diversification," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 20(1), pages 7-30.
    • Handle: RePEc:seb:journl:v:20:y:2022:i:1:p:7-30
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    File URL: http://www.asecu.gr/Seeje/issue38/issue38-awode.pdf
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    References listed on IDEAS

    as
    1. Jacint Balaguer & Manuel Cantavella-Jorda, 2002. "Tourism as a long-run economic growth factor: the Spanish case," Applied Economics, Taylor & Francis Journals, vol. 34(7), pages 877-884.
    2. Cernat, Lucian & Gourdon, Julien, 2012. "Paths to success: Benchmarking cross-country sustainable tourism," Tourism Management, Elsevier, vol. 33(5), pages 1044-1056.
    3. repec:ilo:ilowps:424657 is not listed on IDEAS
    4. Antonakakis, Nikolaos & Dragouni, Mina & Filis, George, 2015. "How strong is the linkage between tourism and economic growth in Europe?," Economic Modelling, Elsevier, vol. 44(C), pages 142-155.
    5. Bolwell, Dain. & Weinz, Wolfgang., 2008. "Reducing poverty through tourism," ILO Working Papers 994246573402676, International Labour Organization.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Tourism Development; Economic Growth; Economic Diversification; Nigeria;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

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