The World Travel and Tourism Council (WTTC) estimate that in 2011 tourism generated in total 3.3% of Nigeria’s GDP. In 2011 this was set to rise by 7.0% per annum over the coming decade. As a result of the small sector, the WTTC ranks the country 171 out of 181 countries worldwide in terms of the relative contribution of tourism to the economy, below the world average. It is estimated that the industry supports 2.9% of total employment, which was forecast to rise in line with industry growth meaning that by 2022 it is estimated that over 2.9 million people will be employed in the sector. Visitor exports generated 0.6% of total exports in 2011; the largest part of tourism income comes from professional and business visitors. In 2009 Nigeria received over 1.4 million visitors.
The natural and cultural tourism sectors are the most important to Nigeria’s travel and tourism economy. The main tourism assets are: national museums all over Nigeria; the Yankari Games Reserve; cultural festivals; carnivals; historic sites and cities; and the Millennium Tower, Abuja. There is potential for investment in the Niger Delta which is the second largest fresh water delta in the world and into the ‘slave routes’ which are a cultural tourism product. The ecotourism sector in Nigeria is currently small, but there is scope to expand and invest. The Nigerian Tourism Development Corporation is the government agency that promotes, regulates, and markets tourism in Nigeria. The Federal Ministry of Culture and Tourism also promotes tourism as a leverage for economic growth and development. Its aim is to market culture and tourism as a foreign exchange earner, income distributor, major employer of labour, catalyst for rural development and a way of fostering peace for Nigeria. Other organisations include the National Institute for Hospitality and Tourism, National Institute for Cultural Orientation and National Council for Arts and Culture.
In 2011 investment in the travel and tourism industry was NGN251.5bn, constituting 7.7% of total investment. This was expected to rise by 6.5% pa over the following ten years, reaching NGN483.4bn by 2022.
