SMALL SCALE BUSINESS AND SUSTAINABLE DEVELOPMENT IN THE HOSPITALITY INDUSTRY

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SMALL SCALE BUSINESS AND SUSTAINABLE DEVELOPMENT IN THE HOSPITALITY INDUSTRY

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

Worldwide, tourism grew phenomenally from 25 million arrivals in 1950 to 808 million in 2005, with an average annual growth rate of 6.5 percent. In 2005, tourist arrivals in Africa registered only 37 million (or 5 percent of the world as compared to 444 million arrivals (55 percent) in Europe, 156 million (19 percent) in Asia/ Pacific, 133 million (16 percent) in the Americas, and 38 million (5 percent) in the Middle East Over the decade of the 1990s, Africa has experienced a rise in tourist arrivals from 8.4 million to 10.6 million and receipts growth from $2.3 billion to

$3.7 billion, In spite of this, there are only few empirical studies that investigated the contributions of tourism to economic growth and development for African economies. (Fayissa, 2007).

It’s understood that tourism contributed three per cent to Nigeria’s Gross Domestic Product in 2012 and 2.8 per cent of total employment. (Jimoh, 2013). According to the travel and tourism competitiveness index (TTCI) 2013, Nigeria performed relatively well on three important pillars of the TTCI:

The natural resource pillar (ranked 68/140),

The cultural resource pillar (ranked 98 out of 140) and

Environmental sustainability (63/140). We have what it takes to succeed. (Uche, 2013).

It is agreed that, if Nigeria must take a place in the committee of great nations, it cannot but begin to make intentional efforts to source revenue outside of oil. One major area where Nigeria could muster some financial strength is the tourism industry. (Spotlight magazine, 2013). The federal government has restated its commitment to diversifying the nation’s revenue base, with a plan to prepare the tourism sector to generate more earnings and create more jobs. (Gregory, & Ajibola, 2013).

The tourism industry offers the opportunity to lessen the country’s dependence on oil revenue, if properly harnessed. At the present level the industry annual revenue is about N80 billion. (George, 2013). The important roles of the tourism sector as the main instrument in socioeconomic development of any nation can be overstated. Although some of the tourist centres in Nigeria are not well developed to promote socioeconomic development however,

Nigeria’s tourism sector is still operating below capacity even as tourism becomes the fastest growth industry globally. The tourism industry is a powerful driver of the economic train of the nations. The industry generates over US$ 1 trillion per annum in direct earnings. Moreover the lack of adequate empirical data has hindered policy makers and other stakeholders on the viability of most of the existing tourism destinations in Nigeria. (Ajibola, 2013).

Depending on the reports tourism sector has seriously under performed. In 2011, only 715,000 tourists visited the country from 1995 – 2011. Nigeria’s highest earnings from tourism were a meager 688 million dollars in 2008. International tourism generated 0.72 per cent of Nigeria’s total export earnings in 2011, finally on the WTO rankings Nigeria is nowhere to be found in the top ten travel destinations in Africa. According to analysts, Nigeria’s tourism sector has potential to generate $4 billion yearly. The sector has been described as under-utilized contributing a meager 0.5 percent to its GDP. However, it has since been selected as one of six priority areas central to the revival of the country’s economy in view of declining global oil price. (Kehinde, 2013).

1.2 Statement of the problem

Nigeria does not have an accurate record of tourism contribution to GDP, as the tourism minister hinted during a TV interview it materialized that the sector does not generate anything close to the tourism earnings in South Africa and Dubai, even with almost 500 tourist sites and attractions in the country. (Ajibola, 2013).

The fiscal impact of the tourism industry is usually assessed at the macroeconomic level and can be measured in several, different ways. The conventional measurement focuses on tourism receipts and the contribution of tourism to a country’s GDP. (Olu, 2012). More recently, The WTTC has reported titled travel and tourism economic impact 2012 put the total contribution of travel and tourism to Nigeria’s GDP at N598.6 billion, which represents 1.6 per cent of the total GDP, and 6.3 per cent per annum from 2012 to 2022. Furthermore, travel and tourism directly supported 838,500 jobs or 1.4 per cent of total employment in 2011. This will be also expected to rise by 3.7 per cent annually to 1,289,000 jobs or 1.6 per cent of total employment in 2022.The report also puts investment in the travel and tourism sub-sectors in Nigeria in 2011 at N 251.5 billion, while forecasting growth in this area at 1.5 percent in 2012 and a rise of 2.4 per cent per annum from 2012 to 2022 (Adewole, 2012).

1.3 Objectives of the study

1. To understand the impact of small scale business to hospitality industry in Nigeria

2. To understand the relationship between small scale business and hospitality industry in Nigeria

1.4 Research questions

1. What is the impact of small scale business to hospitality industry in Nigeria

2. What is the relationship between small scale business and hospitality industry in Nigeria

1.5 Research hypothesis

H0: There is no relationship between small scale business and hospitality industry in Nigeria

H1: There is a relationship between small scale business and hospitality industry in Nigeria

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