New book advocates stronger govt focus on tourism

A new book by tourism strategist Elizabeth Agboola argues that governments should view tourism as a strategic economic asset rather than just a leisure activity. In her book, "Tourism as Capital: 52 Weeks That Shaped Tourism as Capital Doctrine," Agboola makes the case for integrating tourism into national economic planning, recognizing its potential to drive investment, trade, jobs, and development.

She contends that limiting tourism to visitor arrivals and hospitality businesses overlooks its broader economic value, which encompasses connections to finance, infrastructure, agriculture, aviation, technology, diplomacy, trade, and workforce development. Agboola's framework, "Tourism as Capital," aims to shift the conversation in economic planning away from traditional focuses on tourism receipts and visitor numbers.

By viewing tourism as a platform for connecting people, money, ideas, goods, and opportunities across borders, governments can attract investment, expand markets, support exports, improve infrastructure, and create employment. The book delves into various aspects of tourism, including finance and investment readiness, partnerships with banks and telecommunications companies, the link between agriculture and destination supply chains, aviation and market access, tourism diplomacy, workforce development, health and resilience, culture and creative industries.

Agboola emphasizes the importance of this approach for developing economies seeking new sources of growth, stating that tourism can serve as a platform for connecting local production with international markets. She advocates for closer collaboration among government agencies, financial institutions, investors, and private-sector operators to unlock tourism's full potential.

Rather than designing tourism policies in isolation, governments should incorporate tourism considerations into decisions related to aviation, transport, agriculture, telecommunications, urban development, trade, culture, and international relations. Agboola, founder of NTT Global Destinations and a key advisor to the Nigerian Tourism Development Authority, calls for a shift in mindset from viewing tourism solely as leisure to recognizing it as capital that generates value across the entire economy.