The impact of foreign direct investment on hospitality sector in FCT, Nigeria

Abstract

The hotel industry is a vital component of the Nigeria tourism sector and contributes significantly to the wider economy of bother national and regiona levels. The concept of foreign direct investment as it's contribution to Nigeria economy, especially the hospitality industry in the FCT was reviewed. The study adopted a survey research approach and three research hypotheses were formulated to guide the study, The research targeted all the SS for star hotel in Abuja as therefore adopted censis based techniques. A semi structural questionnaire was sent via email to the hotels but only 30 of the hotels responded as were used for the study. Data generated from survey questionaires were analysed using descriptive statiatics. Pearson moment correlation and multiple regression analysis were employed to examine the study's hypotheses. The findings of the study revelaed that the variables are significantly correlated at P<0.01 respecting a significant degree of relationship between the variable.. The regression analysis shows that the technology leverage is sufficiently significant at P <0..05, employment generation is significant at 0<0.05 as prodictillvity is significant at P<0.01. The researcher established that FDI in the hospitality industry is contribiluting to Nigeria economy in the way such as technology, employment and productillvity. however, the paper concluded that host country should improve on it's level of human capital in order to boost her absorption and production capacity to leverage on the presence of transnational companies to faster economy development.