Tourism can be considered one of the most common forms of income for a country. Several countries around the world depend on this sector to strengthen their economic standing. However, with faulty management, it can become a problem leading to a loss in profit.
Tourism can be considered a dependable sector for income due to the fact that it provides the entry of foreign money into the country, thus increasing income. For example, countries whose economy is suffering will benefit from having tourists spend their money locally. A real example of this would be Venezuela. This country has suffered economically for over ten years, resulting in residents throwing out their local pounds due to its low value. However, after becoming a destination for tourists, it had a great economic recovery.
Despite the benefits of the tourism sector in facilitating the entry of money into a suffering country, under the wrong management such a sector can be dangerous to the environment. Usually tourists aren’t as considerate to the environment of a foreign country as compared to their own country. They would not bother themselves with following rules or maintaining cleanliness. For example, many natural preserves in Lebanon have closed due to excessive littering from foreigners, thus losing profit. It is difficult to manage so many tourists, therefore, the managers of this sector must be chosen carefully.
In conclusion, tourism has proved itself to be an important source of income for multiple countries all over the globe, especially those with economic hardships. But this benefit cannot be utilized unless the sector is placed under the right management.