“Fascinating Nigeria” is the new brand to drive travel and tourism growth
After years of neglect, the Nigerian government has finally realised the importance of travel and tourism as a strategic sector in the national economy. Through the Nigeria Tourism Development Corporation (NTDC), it has recently created a new brand, Fascinating Nigeria, with the aim of revitalising the struggling industry as well as developing its value chain. This move aims to make travel and tourism a major contributor to the nation’s GDP and to boost non-oil revenues as Nigeria continues on its mission to diversify its economy out from its current reliance on oil exports. Other recent initiatives by the NTDC to further boost growth in travel and tourism include joining the International Coalition of Tourism Partners (ICTP), forming alliances with emerging global travel and tourism giants such as South Africa and participating in international tourism trade fairs such as WTM London and ITB Berlin.
The new tourist Visa card – an innovative tourist product
Nigeria has been exploiting new technologies in order to facilitate growth in its travel and tourism industry. It recently launched a new tourist Visa card so as to ease the burden of visitors carrying cash while in the country. In addition, a biometric registration system for workers in the industry was also created with the aim of reducing fraudulent activities, especially in the hospitality sector. These innovative tourist products will not only boost travel and tourism development, but will also reposition the industry in Nigeria with global standards and best practices.
Lagos leads Nigeria’s hotel construction boom
Nigeria has become the new frontline in the battle between the international hotel chains looking to tap into the growth potential presented by Africa’s booming economies. Due to its oil-rich economy and growing demand for inbound and domestic tourism, top international hotel brands such as Sheraton, Radisson Blu, Hilton, Marriott and Best Western have already established footholds in the country and are planning to expand their property portfolios in the country with Africa’s second largest economy. Nigeria is well known for its hospitality and as a mega-city Lagos has long been an attractive destination for hotel investors. The city has been the hub of hotel construction in Nigeria due to the fact that much of the nation’s wealth and economic activity are concentrated there. It is also the most populous city in Nigeria as well as one of the largest in Africa and among the largest cities in the world.
NTDC strives to boost domestic tourism
The NTDC has prioritised the development of domestic travel and tourism in Nigeria in a bid to boost growth in the country’s travel and tourism industry. Travel and tourism already generates high revenues and maintains strong growth potential in the country due to the fact that some 15% of Nigeria’s total population travel domestically on an annual basis for business, leisure, cultural, religion reasons and sports events. In bid to promote domestic tourism activities, the NTDC has been mobilising stakeholders in the private sector and is also encouraging cultural activities as a base for the branding and packaging of domestic travel and tourism products. The NTDC also plans to create land and sea transportation hubs to allow local consumers to enjoy travelling around the country.
Nollywood’s positive image to support travel and tourism growth
Despite its huge growth potential, travel and tourism in Nigeria is yet to emerge fully due to various challenges such as limited promotional funds, inadequate infrastructure and constant security issues. However, as the country seeks to diversify its revenue streams beyond its current dependence on oil, emerging niche sectors such as the nation’s thriving film industry, dubbed Nollywood, the third-largest national film production industry at global level, is likely to play a key role in terms of promoting the brand of Nigeria both at home and abroad. The accessibility of the country to a wider audience through Nollywood may help to improve stereotypes about Nigeria and attract more tourists. As a result, the Nigerian government now needs to tap into the positive image being fostered by the Nigerian film industry so as to strengthen its travel and tourism brand.
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Discover the latest market trends and uncover sources of future market growth for the Travel industry in Nigeria with research from Euromonitor's team of in-country analysts.
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The Travel in Nigeria market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation
- Historic volumes and values, company and brand market shares
- Five year forecasts (of market share, market trends, market growth)
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- What are the major brands in Nigeria?
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This industry report originates from Passport, our Travel And Tourism market research database.
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