Coping with the Effects of Global Economic Recession on Tourism Industry in Tanzania: Are We Prepared?
Coping with the Effects of Global Economic Recession on Tourism Industry in Tanzania: Are We Prepared?

Summary/Abstract: Tourism is increasingly featuring as one of the giant sectors contributing to economic prosperity of many countries. However, the sector is very fragile as any external or internal shock may subject it to crumple. The sector is prone to socio economic, political, ecological and climatic changes. The developing countries where domestic tourism is less developed are more vulnerable to these shocks. Tanzania is not an exception of this scenario. The outcome of the global financial meltdown ascertains that Tanzania largely depends upon international tourism derived revenues for the maintenance of her tourist attractions and that the effect of economic recession on the growth of the industry undermines the financial basis of natural resources conservation measures. This leads to the conclusion that Tanzania was not ready to overcome this external event. We therefore recommend that sustainable financing mechanisms like the establishment of “Conservation Trust Funds” be established in order to guarantee the continued maintenance of the country’s tourist attractions.

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