Significance of Hospitality Tourism for a Country’s Economy

Tours and trips have become an important part of our lives these days. We all like spending some free time with our family and friends. This is one of the main reasons why hospitality/tourism industry is growing in almost all the countries. Hospitality tourism sector is important as it generates business for several government and non-government organizations.

The growth of hospitality and tourism industry offers several opportunities to small operators and communities. This is why, various developing as well as developed countries all around the world are promoting hospitality tourism.

How hospitality tourism affects a country’s growth?

Develops trade business – Most tourists buy different local products and take them back to their homes. This includes direct as well as direct foreign investment which plays an important role in trade development of the country.

More employment – With the growth of hospitality/tourism industry, more employment is generated in a country. Several employment opportunities are offered by tourism industry. These employment opportunities are related to different sectors that are related to hospitality and tourism industry.

Infrastructure development – Most of the developing countries construct new highways, airports, hotels, lodges, restaurants, guesthouses and trekking routes to improve their hospitality tourism sector. These new developments are very important to attract more number of tourists.

Cultural development – Apart from above mentioned development, tourists are known for being an important way to exchange culture and values. Hospitality tourism industry helps the local people to learn more about the different lifestyles and religions.

Generates revenue – Hospitality tourism industry in any country helps in generating more income for the locals. Tourists pay different taxes to the government which helps the country to develop. Tourists also help the local traders to earn extra revenue and profits by shopping.

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