MANAGING RISK IN TOURISM DEVELOPMENT PROJECTS: A CASE STUDY OF NIGERIA
Tourism is the fourth largest industry in the global economy. In 2009 the industry was described by the United States Institute of Peace (USIP) as an industry that helps promote peace and stability in developing countries through its jobs provision, income generation, economy diversification, envir...
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| Format: | Article |
| Language: | English |
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UJ Press
2011-12-01
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| Series: | Journal of Construction Project Management and Innovation |
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| Online Access: | https://journals.uj.ac.za/index.php/JCPMI/article/view/17 |
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| author | Oluwaseyi Alabi Awodele Dorcas A Ayeni |
| author_facet | Oluwaseyi Alabi Awodele Dorcas A Ayeni |
| author_sort | Oluwaseyi Alabi Awodele |
| collection | DOAJ |
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Tourism is the fourth largest industry in the global economy. In 2009 the industry was described by the United States Institute of Peace (USIP) as an industry that helps promote peace and stability in developing countries through its jobs provision, income generation, economy diversification, environment protection and promotion of cross-cultural awareness. However, due to inherent risks in terms of some key issues, in tourism development projects, all efforts made by successive governments in Nigeria to develop this important sector of the economy have yielded few positive results. Although there had been several studies on tourism in developing countries, little is known to exist on managing risk in tourism development projects in Nigeria. The main objective of the paper therefore is to provide better understanding of risk and its management in tourism development in Nigeria. Through a sequential mixed-method approach involving a qualitative/quantitative sequence, this paper reveals that a shortage of infrastructure; poor market demand; immature financial markets; and lack of competent manpower were among the significant risk factors affecting successful development of tourism in Nigeria. The paper also identified effective mitigation measures for these risk factors. It is recommended that every stakeholder involved in tourism development projects must be involved in risk management (i.e. in identifying, analysing, developing responses, and controlling risk). Moreover, risk management should also be integrated with the decision-making processes in managing tourism development projects, as risk management reveals the rationales for making appropriate decisions.
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| format | Article |
| id | doaj-art-946e0ed0363847cf9b5b4f7c4298913f |
| institution | Kabale University |
| issn | 2223-7852 2959-9652 |
| language | English |
| publishDate | 2011-12-01 |
| publisher | UJ Press |
| record_format | Article |
| series | Journal of Construction Project Management and Innovation |
| spelling | doaj-art-946e0ed0363847cf9b5b4f7c4298913f2025-01-08T06:15:45ZengUJ PressJournal of Construction Project Management and Innovation2223-78522959-96522011-12-011210.36615/jcpmi.v1i2.17MANAGING RISK IN TOURISM DEVELOPMENT PROJECTS: A CASE STUDY OF NIGERIAOluwaseyi Alabi Awodele0Dorcas A Ayeni1Department of Quantity Surveying, Federal University of Technology, Akure, NigeriaDepartment of Architecture, Federal University of Technology, Akure, Nigeria Tourism is the fourth largest industry in the global economy. In 2009 the industry was described by the United States Institute of Peace (USIP) as an industry that helps promote peace and stability in developing countries through its jobs provision, income generation, economy diversification, environment protection and promotion of cross-cultural awareness. However, due to inherent risks in terms of some key issues, in tourism development projects, all efforts made by successive governments in Nigeria to develop this important sector of the economy have yielded few positive results. Although there had been several studies on tourism in developing countries, little is known to exist on managing risk in tourism development projects in Nigeria. The main objective of the paper therefore is to provide better understanding of risk and its management in tourism development in Nigeria. Through a sequential mixed-method approach involving a qualitative/quantitative sequence, this paper reveals that a shortage of infrastructure; poor market demand; immature financial markets; and lack of competent manpower were among the significant risk factors affecting successful development of tourism in Nigeria. The paper also identified effective mitigation measures for these risk factors. It is recommended that every stakeholder involved in tourism development projects must be involved in risk management (i.e. in identifying, analysing, developing responses, and controlling risk). Moreover, risk management should also be integrated with the decision-making processes in managing tourism development projects, as risk management reveals the rationales for making appropriate decisions. https://journals.uj.ac.za/index.php/JCPMI/article/view/17developing countries, Nigeria, risk management, tourism industry |
| spellingShingle | Oluwaseyi Alabi Awodele Dorcas A Ayeni MANAGING RISK IN TOURISM DEVELOPMENT PROJECTS: A CASE STUDY OF NIGERIA Journal of Construction Project Management and Innovation developing countries, Nigeria, risk management, tourism industry |
| title | MANAGING RISK IN TOURISM DEVELOPMENT PROJECTS: A CASE STUDY OF NIGERIA |
| title_full | MANAGING RISK IN TOURISM DEVELOPMENT PROJECTS: A CASE STUDY OF NIGERIA |
| title_fullStr | MANAGING RISK IN TOURISM DEVELOPMENT PROJECTS: A CASE STUDY OF NIGERIA |
| title_full_unstemmed | MANAGING RISK IN TOURISM DEVELOPMENT PROJECTS: A CASE STUDY OF NIGERIA |
| title_short | MANAGING RISK IN TOURISM DEVELOPMENT PROJECTS: A CASE STUDY OF NIGERIA |
| title_sort | managing risk in tourism development projects a case study of nigeria |
| topic | developing countries, Nigeria, risk management, tourism industry |
| url | https://journals.uj.ac.za/index.php/JCPMI/article/view/17 |
| work_keys_str_mv | AT oluwaseyialabiawodele managingriskintourismdevelopmentprojectsacasestudyofnigeria AT dorcasaayeni managingriskintourismdevelopmentprojectsacasestudyofnigeria |