A Reflection on The Importance of Entrepreneurship in Tourism Development

Abstract

Tourism is significantly contributed to economic development and it is expected to promote tourism development. Tourism industry is not only influences the economic fabric in the society and also it touches the social and moral values. Tourism creates a large amount of employment opportunities for both skilled and unskilled, because it is a labour-intensive industry, which increases the foreign exchanges and local income. This industry play the vital role in the nation building and economic stability of the nation, so the entrepreneurship became a gift in tourism industry with the cause of environmentally preserved, economically beneficial and sustainable development for the localities and their development. Tourism entrepreneurship eliminates societal problems, but surge the fiscal growth and development of a country, resulting to rise in country’s GDP. Entrepreneurship in tourism related with all spheres of industry as tour operations, handicrafts, hotel industry and supplementary accommodation etc. Entrepreneurs in tourism industry are more concern with economically, socially and environmentally process in an ethical manner.

Entrepreneurship is necessary for creation of new organization, construct new businesses. The tourism industry must be able to clearly understand the requirements of the process, tools and resources and also get opportunities to the entrepreneur. Tourism is part of entrepreneurship and promotion of the economic development. In this context the present study has undertaken to examine the role of Entrepreneurship in Tourism Development.