SOCIO ECONOMIC CONTRIBUTION OF BOVINA VIEW HOSPITALITY INDUSTRY TO TOURISM DEVELOPMENT

CHAPTER ONE

1.0 INTRODUCTION

Tourism overtime have become a strand part of many economies of many countries of the world, serving as a backbone upon which service sectors thrive with a backward and forward interconnectivity; wherewith different counties of the world interrelate along same tide (Ayeni and Ebohon, 2012:126). Wherewith the benefits of tourism are a matter of controversy, it cannot be undermine that tourism provides higher returns on invested capitals; effects to increase agriculture production, and employment; generates foreign exchange, government revenue; finance for infrastructure development, and generally increases citizens welfare, helps capitals flights esp. when associated with overseas trips for holiday and proper overall economic growth (Bankole, 2002:77). Tourism is a rapidly growing phenomenon and has become one of the largest industries in the world. The impact of tourism varies extremely. On one hand, it plays an important and certainly positive role in the socio economic and political development in destination countries by, for instance, offering new employment opportunities. Also, in certain instances, it may contribute to a broader cultural and understanding by creating awareness, respecting the diversity of cultures and ways of life. On the other hand, it is a tool to create jobs. Tourism has been a major driver of socio-economic development in Western society; it is an alternative strategy for sustainability and diversification of economy for important policy of a good government.