The extent to which political and economic risks have affected the tourism industry in Nigeria

Objective: The study aims to determine the extent to which political and economic risks have affected the tourism industry and the economy in Nigeria. Prior Work: In recent times, there has been a clamour for the development of t The study aims to determine the extent to which political and economic...

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Main Authors: Powel Maxwell Worimegbe, Temitope Mariam Worimegbe, Elizabeth Abiola‑Oke
Format: Article
Language:English
Published: Wydawnictwa AGH 2019-06-01
Series:Studia Humanistyczne AGH
Subjects:
Online Access:http://journals.bg.agh.edu.pl/STUDIA/2019.18.2/human.2019.18.2.77.pdf
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spelling doaj-7cc0bec69bb744638648d408eff0cd9f2021-10-02T12:41:36ZengWydawnictwa AGHStudia Humanistyczne AGH1732-21892084-33642019-06-01182779010.7494/human.2019.18.2.77The extent to which political and economic risks have affected the tourism industry in NigeriaPowel Maxwell Worimegbe0https://orcid.org/0000-0002-7239-1253Temitope Mariam Worimegbe1https://orcid.org/0000-0001-7549-6600Elizabeth Abiola‑Oke 2https://orcid.org/0000-0001-5910-4865Olabisi Onabanjo University, NigeriaRedeemers University, Nigeria Redeemers University, Nigeria Objective: The study aims to determine the extent to which political and economic risks have affected the tourism industry and the economy in Nigeria. Prior Work: In recent times, there has been a clamour for the development of t The study aims to determine the extent to which political and economic risks have affected the tourism industry and the economy in Nigeria. Prior Work: In recent times, there has been a clamour for the development of the Nigerian tourism industry but such has been beset by a spate of religious intolerance, insurgency, and changes in government, among others. There seems to be dearth of literature and empirical evidence to show the extent to which political risk has influenced tourism in Nigeria. Approach: Time series secondary data from the World Travel and Tourism Council, 2017 were used in the regression analysis. Regression statistical technique was used to examine the relationship between political and economic risk and tourism in Nigeria specifically between 2006 and 2017. Results: The study adopted a regression approach and found out that causality exists and there is a positive significant relationship between political and economic risk in Nigeria. Implication: The result of the relationship shows that political and economic risk have effects on tourism, and tourism has a significant impact on the economy. The significant effect of political and economic risk on tourism calls for adequate security in the country, and better legal and institutional frameworks. This will enhance the economic impact of tourism on the Nigerian economy.http://journals.bg.agh.edu.pl/STUDIA/2019.18.2/human.2019.18.2.77.pdfeconomic riskpolitical risktourism industrygross domestic product (gdp)
collection DOAJ
language English
format Article
sources DOAJ
author Powel Maxwell Worimegbe
Temitope Mariam Worimegbe
Elizabeth Abiola‑Oke
spellingShingle Powel Maxwell Worimegbe
Temitope Mariam Worimegbe
Elizabeth Abiola‑Oke
The extent to which political and economic risks have affected the tourism industry in Nigeria
Studia Humanistyczne AGH
economic risk
political risk
tourism industry
gross domestic product (gdp)
author_facet Powel Maxwell Worimegbe
Temitope Mariam Worimegbe
Elizabeth Abiola‑Oke
author_sort Powel Maxwell Worimegbe
title The extent to which political and economic risks have affected the tourism industry in Nigeria
title_short The extent to which political and economic risks have affected the tourism industry in Nigeria
title_full The extent to which political and economic risks have affected the tourism industry in Nigeria
title_fullStr The extent to which political and economic risks have affected the tourism industry in Nigeria
title_full_unstemmed The extent to which political and economic risks have affected the tourism industry in Nigeria
title_sort extent to which political and economic risks have affected the tourism industry in nigeria
publisher Wydawnictwa AGH
series Studia Humanistyczne AGH
issn 1732-2189
2084-3364
publishDate 2019-06-01
description Objective: The study aims to determine the extent to which political and economic risks have affected the tourism industry and the economy in Nigeria. Prior Work: In recent times, there has been a clamour for the development of t The study aims to determine the extent to which political and economic risks have affected the tourism industry and the economy in Nigeria. Prior Work: In recent times, there has been a clamour for the development of the Nigerian tourism industry but such has been beset by a spate of religious intolerance, insurgency, and changes in government, among others. There seems to be dearth of literature and empirical evidence to show the extent to which political risk has influenced tourism in Nigeria. Approach: Time series secondary data from the World Travel and Tourism Council, 2017 were used in the regression analysis. Regression statistical technique was used to examine the relationship between political and economic risk and tourism in Nigeria specifically between 2006 and 2017. Results: The study adopted a regression approach and found out that causality exists and there is a positive significant relationship between political and economic risk in Nigeria. Implication: The result of the relationship shows that political and economic risk have effects on tourism, and tourism has a significant impact on the economy. The significant effect of political and economic risk on tourism calls for adequate security in the country, and better legal and institutional frameworks. This will enhance the economic impact of tourism on the Nigerian economy.
topic economic risk
political risk
tourism industry
gross domestic product (gdp)
url http://journals.bg.agh.edu.pl/STUDIA/2019.18.2/human.2019.18.2.77.pdf
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