TOURISM AND DEVELOPMENT
WHEN PARADISE
PAYS THE PRICE
As a major global industry, tourism presents a significant opportunity for low and middle-income countries. Yet it also poses a number of economic, social and environmental challenges that can undermine sustainable development By Angus Downie, Senior Economist, OPEC Fund
W hile one man’s holiday is another man’s income it increasingly also is a third man’s problem. The Université du Luxembourg concludes a recent study on the impact of tourism with the warning: “Chasing profits at the expense of nature and culture can turn paradise into self-destruction.”
It is a timely reminder. Tourism is a major global industry, contributing over 10 percent to global GDP and generating millions of jobs worldwide, according to the World Bank and the World Tourism Council. For low and
middle-income countries (LICs and MICs), especially Small Island Developing States (SIDS), tourism presents a significant opportunity for economic development, cultural exchange and environmental preservation. However, alongside its many benefits, tourism also poses a number of economic, social and environmental challenges that can undermine sustainable development if not properly managed.
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