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Tourism as a development strategy: Is it the right way to progress - Essay Example

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In many nations, it acts as a major drive for development through employment creation and as a source of foreign exchange. The industry…
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Tourism as a development strategy: Is it the right way to progress
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Download file to see previous pages The major reason behind this is the large-scale transfer of tourism revenues out of the third world countries as well as the exclusion of local products and enterprises (Pritchard, Morgan, & Ateljevic, 2011). The paper analyzes whether indeed tourism is a developmental strategy and whether or not in the last three decades, it has brought about poverty alleviation in the Third World countries, in particular, the Philippines.
The United Nations has recognized tourism as a great source and influence of a country economic growth. In 1967, it declared the year as the “International Tourism Year” mobilizing all its agencies to finance as well as assist in tourism programs and research in an effort of initiating the tourism sector among the developing nations. Liburd (2012) states that tourism in a country is a major source of foreign exchange and currency that is important for ensuring that there is a balance of payments deficit in the country and helps in servicing the foreign program debts in existence in the third world nations (Unep Wto, 2005). This provides a balance between the nations expenses and revenue that is gained. As a result, in 70s, tourism development was enhanced by the IMF-WB adjustment programs through a combination of investors that included transnational corporations under hotel and resort control, by taking foreign-funded infrastructure projects such as mapping out tourism and the provision of loans to help with funds for infrastructure construction in support of tourism exploitation (Jazminda, 2008).
As a result, third world nations with exotic culture and places opened up, providing fresh and alternative gateways of tourism encouraging tourism exploration. It is important for these countries to take advantage of their exotic cultures and natural resources to enhance tourism. According to Jazminda (2008), tourism can be considered as a hotel and airline industry as these sectors control the bulk ...Download file to see next pagesRead More
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