Why Tourism Is Important To Sub-Saharan Countries
Just as discussed above, it is clear that the non-Western world are playing an increasingly prominent role in this growing sector. Tourism is one of the most key areas that globalization influences mainly because of how diverse the industry is. Therefore, for most countries who incorporate globalisation, as a result, it has brought rapid growth for their economics. Due to such “Africa’s private companies are increasingly attracting regional and international investments and the returns on investing in Africa are among the highest in the world” (World Bank, 2015).
Dieke (2003) believes that tourism is multi-faceted and its economic dimension can’t occur without inputs of a social, cultural and environmental nature. However economically, tourism has numerous advantages; it creates and provides jobs in areas such as Sub Saharan Africa. In which a number of the world’s poorest countries lie’s within. The industry is considered as the primary source of foreign exchange. Tourism also helps in reducing the reliance on other sources of economy. This has allowed Nigerians to understand the importance of tourism, preventing leakages in the long run. For instance in Nigeria many of the goods and services used by them are either from other companies or subsidiaries of foreign countries located within the country (Ogbabu & Ameh, …show more content…
Meaning that the impacts of globalization in tourism can have an effect to the economic, technology, culture and politics. Economic impacts, can be seen through enhancing income and living standards while providing job opportunities. Globalization has many economy and trade advantages to the growth of tourism in sub Saharan countries. In the past developing countries were not able to get funds from the world economy because of trade barriers, however due to the globalization of tourism it has formed new opportunities in order to prevent it. The tourism sector is increasingly attracting regional and international investment permitting it to stay among the highest in the world. World Bank and International management has empowered nonwestern countries such Sub Sahara Africa to get considerable amount of loans to take care of neediness issues in Africa. For Kenya and South Sudan “The $500 million World Bank Group (WBG) credit will also support other activities designed to improve the livelihoods for those living in the region, and increasing regional competitiveness”( World Bank ). Likewise In 2015, 80,000 traders and their families in Africa's Great Lakes Region benefited from food security, more jobs and the improved living standards as a result of the US$79 million International Development grant, approved by World Bank (World Bank,