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How Nigeria loses $2bn annually from tourism sector -Report
Nigeria has in the past 10 years failed to reap from yearly revenue, estimated at $2 billion from the tourism sector, so said the World Travel Market (WTM).
In its report on the activities of the sector, globally, published by it’s London-based unit, World Tourism Watch, while countries like UAE, South African and Ethiopia have been boosting their gross domestic income by 25 per cent annually, Nigeria, Iraq and Libya are among countries that are yet to maximally tap from the potential in their domains.
It stated that hotel and hospitality businesses have, via tourism, seen more than 100 countries, out of 185 polled, sustain their economies from the sector.
“Some of the developing countries with mono economies, like Nigeria, have also achieved diversification, up to 40 per cent recorded achievements”, the report said.
Read also: Inflation hits 11-year high at 18.55%
The report blamed policy makers’ inability to involve private sector in running the Sector as a major reason for the lapses noticed in the growth of the industry in Nigeria.
Another report said Nigeria did not have a befitting stand at the just concluded tourism tour, when compared with other smaller countries like Kenya, Tanzania and others.
But Lai Mohammed, Minister of Information, said the tourism sector was being reorganised to soon become one of the major foreign exchange earners in Nigeria with the issues bordering on security being tackled in parts of the country.
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