Influence Of Exchange Rate On Sustainable Tourism Development In Nigeria

ABSTRACT

This study focused on the influence of exchange rate deregulation in sustainable tourism development in Nigeria. Descriptive survey design was adopted  the study. Questionnaire was used for data collection. 116 staff of the selected tourism centre was used in the study. Statistical Packages for Social Sciences (SPSS) was used for data analysis. Major conclusions from this study revealed that Nigeria can only maximize her tourism economy potentials if the government put in place the required tourism regulatory framework (TRF). The study further revels that the extent to which the government of Nigeria priorities the tourism sector has an important impact on the competitiveness of tourism economy in the country. It is also resolved that good health and sanitary practices are fundamental for Nigeria to unlocking her tourism economy competitiveness. In the light of the foregoing, the government of Nigeria should vigorously purse favorable policy environment that supports tourism business investment. Based on the findings of this research, the researcher recommended that since Nigeria has potential tourism destination that can attract every class of tourist as postulated in Plog’s Classification of tourist. The natural climate and environmental features in the country can stimulate the number of international tourist arrival to Nigeria. The United Nations World Tourism Organizations (UNWTO) has projected the increase in tourist arrival to Africa to have an average long term growth rate of 4.4% a year, which has been predicted to reach 1.8 billion by 2030 (UNWTO 2015). Competition among destination countries in attracting tourists from all over the world is very keen; and is determine by political factors and social stability, safety and security at the destination country.