Tourism an Engine of Wealth Creation in Zimbabwe

Sanderson Abel and Pierre Le Roux
Additional contact information
Sanderson Abel: Nelson Mandela Metropolitan University, South Africa
Pierre Le Roux: Nelson Mandela Metropolitan University, South Africa.

International Journal of Economics and Financial Issues, 2017, vol. 7, issue 2, 129-137

Abstract: Tourism is one of the fastest growing industries in the world. Its rapid expansion has been considered as an interesting possibility for sustainable development including poverty reduction in many countries. Its importance as a growth driver derives from its potential towards exploitation of economies of scale, relieving the foreign exchange constraint, raising efficiency through increased competition, promoting the diffusion of technical knowledge, as an important source of income, employment and wealth. The Zimbabwean tourism sector which has been identified as one of pillars of economic growth in the medium term plan (2012-2015) has undergone tremendous changes over the year. These changes reveal that the tourism sector in the country has some form of resilience to challenges that may affect other economic sectors. The study evaluates the major factors underpinning the resilience of the tourism sector and its contribution to the broader macroeconomic aggregates in comparison to the other economic indicators. Adescriptive approach is used in the study to describe the data and characteristics of the tourism sector. This methodology is employed when researchers wants to gain a better understanding of a topic, and involve documentary review and descriptive data analysis to explain the phenomena. Acomparative analysis was done with other regional countries to determine the position of the sector in the region and also to draw lessons from those countries with a view of proffering solutions on how the industry can spur growth and economic development in the country.

Keywords: Tourism; Wealth Creation; Descriptive Approach (search for similar items in EconPapers)
JEL-codes: A12 L83 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.econjournals.com/index.php/ijefi/article/download/2996/pdf (application/pdf)
http://www.econjournals.com/index.php/ijefi/article/view/2996/pdf (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ1:2017-02-18

Access Statistics for this article

International Journal of Economics and Financial Issues is currently edited by Ilhan Ozturk

More articles in International Journal of Economics and Financial Issues from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().