Transportation Nigeria has attained a high level of good transportation system especially Airline and Road Transportation, investment opportunities are still needed in water recreation transportation and rail services.
Hospitality The hospitality sector of the tourism industry seems to be the most competitive area with the presence of starwood Hotel Groups, owners of Sheratons, Hilton, Le Meridien, Shangra Lai the Asian Hotel giant in restaurants and many
Beach
Meanwhile, most of Nigeria’s beautiful beaches locations are still largely without accommodation facilities, which are targets for investors in most tourism destinations across the globe.
Tour Operations
Like the Europeans and Americas tour companies invaded the North, South and East Africa by having tour offices in these regions which enable them to market destinations in their home countries is lacking in the case of Nigeria.
Any Company willing to do so for Nigeria will be highly welcome.local hotel and restaurant groups battling for a better share of the market.
Investment Climate
Apart from the enormous potentials and investment opportunities in the Nigerian tourism sector, the country’s investment climate at present is one of the most favourable in Africa for a number of reasons: Political Stability.
The enthronement of a viable democratic system, which guarantees political stability, improves international relation and respect for human rights would in various ways enhance investment opportunities in the country.
The Essay on Tourism Tour Guide
I am Nurul Hasanah, your tour guide for today. I am willing to guide and assist you all. And now we’re going to explore and see the beauty of Makassar. Okay, Makassar formerly called Ujung Pandang is the provincial capital of South Sulawesi and the largest city in Sulawesi Island. Makassar has become the primary port and airline hub of the eastern archipelago, the thousands of remote islands being ...
Tourism Incentives
The provision of incentives in the 1990 National Tourism Policy were also to enhance private sector participation. These are in the following areas:
Conclusion
Tourism investment atmosphere in Nigeria is now conducive given the abundant resources available, large market, enthronement of enduring democracy, and a package of incentive put together by government. Foreign investors and other interested individuals should take these advantages to invest in the Nigerian tourism industry for sustainability and profitable returns.
Tourism Investment Opportunities In Nigeria
A Tourism policy was produced in 1990 with the basic objectives to make Nigeria the ultimate tourism destination in Africa.
The main thrust of government policy on tourism, is to generate foreign exchange, encourage even development, promote tourism based rural enterprises, generate employment and accelerate rural urban integration and cultural exchange.
Due to the importance the Nigerian government attaches to the tourism industry, the following strategies were adopted:
Infrastructure
Government would ensure that the provision of basic infrastructural facilities, namely, good roads, water, electricity, communications and hotels, to centres of attraction, in order to accelerate their development for the purpose of exploiting fully their touristic value. In furtherance of this goal, the appropriate government agency responsible for tourism promotion and development, shall establish and maintain close laison with other government agencies responsible for the provision of the infrastructure.
Concession of Land
State governments will provide land without any hindrance for tourism development at concessional rates and conditions favourable to investment and the realisation of investment thereon. This will necessarily include the abolition of annual ground rent within the period of construction and development of tourism. For orderly development of tourism and tourism product, it is mandatory for all state governments to demarcate potential Tourism Zones and their products from other usage, to avoid undue pollution. 100% equity ownership of companies in Nigeria and repatriation of profits and dividends etc.
The Term Paper on Bank of Industry Nigeria
The Bank of Industry was created by the Federal Executive Council in January 2002 with the sole purpose of promoting and encouraging small and medium scale industries in Nigeria by providing long term financing to the industrial sector of the Nigerian economy. It was formed by the amalgamation of three already existing development financial institutions comprising: The Nigerian Bank of Commerce ...
Fiscal and Other Incentives
In order to boost the level of private sector investment in tourism, it is treated by government as a preferred sector, like agriculture. Government has also introduced such incentives as, tax holidays, tax rebate and soft loans, with long period of grace to potential investors in tourism.
Patrol and Regulation of the Industry
The government has enacted laws and regulations, which govern the activities of the categories of people involved in the industry, like hoteliers, travel agents, tour-operators, car hire services. This is to ensure that their conduct, is not detrimental to objectives of the industry and the security of the nation, as well as tourists.
Beach and Coastal Resort development (Nigeria has over 700km of unpolluted sandy beaches).
Conservation and Protection of 8 national parks and over 10 game reserves. Development of hotels and standard restaurants Transportation: water recreation, package tour services, air and rail services. Development of caves, tunnels, waterfalls and spring waters. Youth hostels, camps and centres Lake and River sport fishing. Scenic and Mountain Holiday resorts Theme/Amusement parks Conference/Congress Services Conservation and protection of endangered wildlife especially drill monkey, manatec, white throated monkey and pigmy hippo. Heritage, cultural and archaeological sites.
