Over Reliance of Tourism for GDP in Developing Countries
The tourism sector has the ability to promote as well as sustain a nation’s economy. But being over-dependent on tourism will prove potentially harmful for unindustrialized nations. One clear example of the consequences of overdependence on tourism is that of the scenic Republic of Maldives, which was mainly reliant on tourism for economic development and sustenance. The nation declared an emergency last year after threats of an attack; its economic condition was subsequently labeled unstable and a near-stoppage in its activities was witnessed. Not even seven days later, the government withdrew the emergency after widespread local and global censure. The emergency was unallowable owing to its immense potential adverse impacts on the nation’s tourism sector (Bojanic and Lo 2016, pg. 4).
Being overly dependent on tourism for supporting the national economy places a nation at significant risk. In general, nations wholly dependent on their tourism sector for generating income experience great vulnerability. Currently, several nations worldwide are getting difficult to access; consequently, their tourism sector has not been operating in a normal manner. A majority of nations have been experiencing natural catastrophes as well as manmade ones (e.g., terror attacks). As...
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