Political Economy and Tourism Policies in the Golden Ring Countries: Comparative Assessment and Future Directions

Abstract

Tourism is one of the most prominent and rising industries in the world economy. It plays a key role in promoting the economy of every nation. Increasing tourism flows can offer favorable economic results to countries, by directly increasing Gross National Product (GDP) and employment. This implies that tourism acts as a catalyst for economic growth. The article aims to explore the political economy of tourism of Golden ring countries. It elaborates the tourism policies of "Golden Ring Countries" and examines the influence of these policies on their economic development. The study adopted a qualitative secondary approach. By elaborating tourism policies of golden ring countries this paper attempted to highlight the need for a combined trade policy for the Golden Ring economies. The main findings from this study reveal that economic growth is significantly driven by tourism development. This study recommends that legislators should concentrate on policies that focus on promoting tourism because of its huge potential across the region.