Tourism Development and Sustainable Economic Development: Evidence from South Western Nigeria

Abstract

Aims: The study was done (i) to examine the influence of tourism on sustainable economic development, and (ii) to identify the factors affecting tourism development in South Western Nigeria. Study Design: Descriptive survey design was employed for the study.  Place and Duration of Study: The study was carried out in seven cities of different states of South Western Nigeria, namely: Erin-Ijesa, Osun Oshogbo Sacred Grove in Osun State; Oyo town in Oyo State, Ikogosi, Ekiti State, Abeokuta in Ogun State, Idanre town of Ondo State and Victoria Island, Lagos. Methodology: Ten (10) respondents each from all the seven cities were selected and questionnaire and the oral interview was done with them. The obtained data were statistically analysed using SPSS. Results: Respondents agreed that tourism had improved household income and government revenue tremendously and lack of interest by financial institutions to lend capital to tourism investors are significant challenges confronting tourism. The tourism development has a statistically significant influence on sustainable economic development also. Conclusion: The study concludes that development of tourism is an engine room of economically sustainable development, and recommends that government should attract private investors to invest in tourism, to foster the state economy.