Diversification of tourism and economic development of Kazakhstan

A. Zh. Panzabekova

R-Economy, 2018, vol. 4, issue 3, 82-87

Abstract: The article aims to demonstrate how the economic conditions of Kazakhstan determine the need for horizontal diversifi cation in the tourism industry by analyzing the correlations between the volume of tourism services and such indicators as the GDP, unemployment, tenge exchange rate, infl ation and the number of small and medium-sized enterprises. The overview of the tourism industry in the republic and its development prospects shows that tourism has been playing an increasingly important role in the country’s economy. The negative factors that hinder development of the tourism industry in Kazakhstan include the lack of transport and information infrastructure, the unstable banking sector and unaff ordable business loans, the lack of qualifi ed personnel in marketing, catering and hospitality spheres. A conclusion is made that the potential for the development of recreation, sport, cultural, ecological and religious tourism is not fully realized in the country and that a more diversifi ed portfolio of tourism products is required. Moreover, it is necessary to enhance the country’s economic growth, that is, to reduce its dependence on oil and gas, support the development of the banking sector and implement structural reforms. The results of this research can be used for designing state and regional tourism support programs in Kazakhstan.

Keywords: IDENTIFICATION; DIVERSIFICATION; TOURISM; ECONOMIC DEVELOPMENT; KAZAKHSTAN (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:aiy:journl:v:4:y:2018:i:3:p:82-87

DOI: 10.15826/recon.2018.4.3.012

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