The Effects of Dollarization on Human Resources in the Hospitality Industry in Zimbabwe

Abstract

The study investigated effects of dollarization on Hospitality Industry's Human Resources. A qualitative study was done in hotels located at one of Zimbabwe's renowned tourist resort (Nyanga). Semi structured questionnaires were used to collect data and thematic data analysis adopted. Major issues to emerge from the study were improved employee performance, decreased staff turnover, high staff morale and improved employee benefits. It was concluded that apart from the disadvantage of the country's loss of monetary and fiscal sovereignty, dollarization positively affected the hospitality industry's human resources. It is therefore recommended that dollarization should continue in the Zimbabwean economy for continued benefits of employees and their families until such a time when introduction of local currency does not in any way erode the gains realised as a result of dollarization.