Private investment (both foreign and domestic) in tourism is directly related to the availability of adequate infrastructure (roads, water supply, telecommunications and power supply) and the involvement of the Government of Tanzania in the provision of essential public infrastructure is crucial for the expansion of the tourism industry. As infrastructure develops, tourism should increase – but the environment might suffer. However, projects only aiming to maximize returns on investment rarely serve national development needs. Most developing countries must double current infrastructure investment levels of less than 3 per cent of gross domestic product (GDP) to around 6 per cent for significant transformational impact. American infrastructure in selected, built, maintained, operates and paid for in a diverse and fragmentary fashion. Investing in education, health, andsocial protection not only pays off for individuals whose lives are improved, we now have evidence that it contributes directly to economic growth and greater stability for their countries. Regional, racial and educational factors can all serve as barriers to a person’s participation in the tourism industry. For various reasons, infrastructure projects in developing countries are receiving broad endorsement. Foreseeing the demand that may occur during seasons is crucial in determining how much money should be invested in … This ‘disconnect’ is mainly due to ascendant financial interests and related policy advice insisting on engaging the private sector in infrastructure development and planning and transforming Agenda 2030 to achieve the Sustainable Development Goals into lucrative private investment opportunities. Infrastructure investment needs have been estimated at 6.2 per cent against actual spending of 3.2 per cent of the GDP of Latin America and the Caribbean in 2015. All rights reserved. The federal role should not be exaggerated. Similalrly social differences between tourists and their ‘hosts’ could either help or hinder tourism, depending on the local quality of life and people’s attitudes towards making sacrifices for the tourist dollar. Policymakers are instead urged by UNCTAD to better plan how to accelerate structural transformation. - Terms & Conditions. Tourism can be a useful source of income to help developing countries improve conditions and invest in the future, but these countries should be careful to lean toward diversification of their economies instead of dependence on tourism. Infrastructure for structural transformation Foreign assistance in the developing world needs to go beyond the beach. UNCTAD’s analysis of over 40 developing countries’ national development plans suggests too much emphasis on infrastructure projects – which appeared in 90 per cent of them – as business opportunities. Copyright © 2020 IPS-Inter Press Service. Your contribution will make a huge difference. For a country to become rich, they must have reliable institutes. The Employment Paradox in Former Soviet States, How Beautiful Together is Helping Orphans by Capturing the Struggles of Poverty, Action Against Hunger: Innovative Research to End Hunger, The Refugee Olympic Team Gives Hope to Refugees, Congress Acts Against Attacks on Religious Minorities in Afghanistan, Combatting Poverty in Mexico During COVID 19, World Bank Fights the Impacts of COVID-19 in India. But bankability will not close the financing gaps for infrastructure investment. Current and projected investment needs in Asia during 2016-2030 are estimated at around 5 per cent of GDP. Infrastructure and development are better connected when projects are well designed and integrated into a wider development strategy promoting positive feedback among infrastructure, productivity and growth. Second, countries need to invest in their people. Investing in education, health, andsocial protection not only pays off for individuals whose lives are improved, we now have evidence that it contributes directly to economic growth and greater stability for their countries. Private investment (both foreign and domestic) in tourism is directly related to the availability of adequate infrastructure (roads, water supply, telecommunications and power supply) and the involvement of the Government of Tanzania in the provision of essential public infrastructure is crucial for the expansion of the tourism industry.

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