In recognition of the acres of diamond that tourism in Nigeria offers, BusinessDay is organising its first-ever conference for the sector and Lola Ade-John, minister of Tourism in Africa’s biggest producer and exporter of crude oil has confirmed participation as a special guest of honour and keynote speaker.
Themed “Unlocking Nigeria’s Tourism Potential: Strategies for Sustainable Growth and Global Competitiveness,” it is a pivotal event for the Nigerian tourism industry and will be held on 4 September, 2024 at Eko Hotel, Victoria Island, Lagos.
The Travel & Tourism market in Nigeria is set to see substantial revenue growth in the coming years. By 2024, revenues are expected to reach approximately US$3.31 billion, with the market anticipated to expand at an annual growth rate of 11.23 per cent, according data compiled by Statista, an online data platform. This growth trajectory is projected to bring the market volume to around US$5.64 billion by 2029.
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Furthermore, the largest in Nigeria’s Tour & Tourism industry is the hotels market, which is projected to have a market volume of US$1.44 billion in 2024.
According to Agusto&Co, a business management consulting firm, across the world, tourism has evolved to become one of the fastest growing industries.
This growth has been driven by advanced technology in travel and an increased holiday culture. With an endowed geographical landscape which comprises the coastal beaches, mountains, historical monuments, wildlife, UNESCO approved heritage centres and diverse culture, Nigeria should be able to create a niche in global tourism.
This is why Ade-John’s commitment to revitalising the tourism industry in Nigeria through multi-layered stakeholders engagement is vital and her presence at BusinessDay’s first tourism conference is more than symbolic.
During a recent engaging dialogue in Lagos with the Association of Nigerian Journalists and Writers of Tourism (ANJET), she highlighted the government’s unwavering dedication to revitalising the tourism industry.
“We cannot afford to remain stagnant,” she affirmed, outlining strategic initiatives aimed at repositioning Nigeria’s tourism sector as a key economic driver.
The upcoming conference on Nigeria’s tourism industry seeks to achieve critical objectives that will contribute to the sector’s growth and development.
These objectives include fostering collaboration among key stakeholders, identifying and addressing critical challenges, developing actionable strategies for sustainable tourism development, showcasing innovative solutions, and facilitating networking and partnership opportunities. The conference aims to create a platform for knowledge sharing, idea generation, and joint problem-solving, ultimately enhancing the competitiveness of Nigeria’s tourism industry on a global scale.
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The conference will feature panel sessions focused on key themes in Nigeria’s tourism industry. The first panel will discuss “Revitalising Tourism Infrastructure and Enhancing Aviation Synergy.” While the second panel will dwell on “Empowering Hotel, Tour Operators and Travel Agencies: Regulation, Investment, and Innovation.”
Sponsoring the BusinessDay Tourism Conference offers unparalleled opportunities to influence the trajectory of Nigeria’s tourism sector, network with top industry leaders, and enhance the sponsor’s visibility and reputation.
Volatility in global oil prices has exposed the weaknesses of Nigeria’s heavy reliance on crude oil revenues. While agriculture has been touted as the “saviour industry,” the tourism sector, if properly revitalised, could also become a major source of foreign exchange. This is one of the objectives of this conference.
