New book advocates for treating tourism as a key economic driver

Governments and policymakers are urged to reframe their perception of tourism, moving beyond viewing it solely as a leisure pursuit focused on holidays and attractions. Instead, they should recognize it as a vital economic asset capable of stimulating investment, trade, job growth, and overall national development. This call comes from tourism strategist and policy adviser Elizabeth Agboola in her new book, "Tourism as Capital: 52 Weeks That Shaped Tourism as Capital Doctrine."

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Tourism is not simply another sector within the economy. It is the movement of people, ideas, capital and opportunity.

Agboola argues that tourism operates at the nexus of various economic components, warranting a more central position in national economic planning. She contends that confining tourism's definition to visitor arrivals and hospitality businesses has obscured its broader economic significance. This includes its potential to foster connections within finance, infrastructure, agriculture, aviation, technology, diplomacy, and workforce development.

The book introduces the "Tourism as Capital" framework, developed through extensive research and practical insights. This framework aims to shift the perspective of governments, investors, and businesses, encouraging them to look beyond traditional metrics like tourism receipts and visitor numbers. Agboola posits that when tourism is strategically integrated into economic planning, it can significantly enhance a country's ability to attract investment, broaden market access, support export activities, improve infrastructure, and create employment, thereby bolstering global competitiveness.

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When we understand that movement properly, we begin to see tourism as the infrastructure through which many other sectors create value.

"Tourism as Capital" delves into crucial aspects such as tourism finance, investment readiness, and the collaborative roles of banks and telecommunications companies in sector development. It also explores the interconnectedness of tourism with agriculture, aviation, international relations, workforce training, health initiatives, and the creative industries. Agboola suggests that this integrated approach allows policymakers to see tourism investment as generating returns across multiple sectors, rather than benefiting only traditional tourism businesses.

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The question is no longer simply how many tourists are coming. It b