How does strategic tourism management benefit local entrepreneurial development in emerging economies?

Strategic tourism management plays a crucial role in nurturing local entrepreneurial development, especially in emerging economies. By streamlining tourism policies, improving infrastructure, and promoting sustainable practices, governments and private stakeholders can create an environment that fosters innovation and entrepreneurial ventures. For instance, integrated efforts to improve tourist sites can lead to increased demand for local products and services, thus providing entrepreneurs with a market for their offerings. Additionally, tourism-related projects can stimulate the local economy by creating job opportunities and encouraging the establishment of small and medium-sized enterprises (SMEs) that cater to the needs of tourists. Support such as business development services, access to capital, and training programs can further empower local entrepreneurs. An example of this would be the 'One Village, One Product' movement, which has been successfully implemented in countries like Thailand and encourages local communities to develop unique products or services related to their village that appeal to visitors.

For more detailed information on the role of strategic tourism management in entrepreneurial development, the United Nations World Tourism Organization (UNWTO) provides valuable resources, which can be found at https://www.unwto.org/.