The Role of Tourism Entrepreneurship Businesses in the Economic Development: An Overview

Abstract

Tourism entrepreneurship is considered as a recent phenomenon in the academic literature. Although the existing literature explored much on the role of entrepreneurship in the tourism industry as well as the role of entrepreneurship in the economic development, investigation of the role of tourism entrepreneurship businesses on the tourism development and consequently, on the economic development is not done extensively. The study provides a brief overview of the contribution of the entrepreneurship businesses in the economic development. Moreover, it also shortly describes the role of entrepreneurship in tourism businesses that stimulate tourism development. Thus, the study tried to explore the contribution of the tourism entrepreneurship businesses to the tourism development as well as economic development of the country. However, this study focused the three main contributions of tourism entrepreneurship businesses that require in the economic development of any country: (1) tourism entrepreneurs can create employment opportunities for themselves as well as for others (2) tourism entrepreneurship businesses can improve life standard of the people through earning more income and (3) rural development occurs through this tourism entrepreneurship businesses. Further depth study might be possible for providing some empirical evidence based on these three aspects of economic development that would investigate how employment opportunities, the standard of life as well as rural development can be possible through tourism entrepreneurship businesses. Moreover, a future study needs to explore how tourism entrepreneurship helps bring business benefits and tourism development that contribute to these three aspects of economic development.