Lesson Notes By Weeks and Term - Senior Secondary 1

Financial/economic benefits of tourism to the Nigeria economy

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TERM – 3RD TERM

WEEK TWO

Class: Senior Secondary School 1

Age: 15 years

Duration: 40 minutes of 5 periods each

Date:

Subject: TOURISM

Topic: FINANCIAL/ ECONOMIC BENEFITS OF TOURISM TO THE NIGERIA ECONOMY

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. Construct a detailed research on financial benefits.
  2. List the types of financial benefits of tourism
  3. Identify the importance of financial benefits on the Nigeria economy.

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures,

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S

ACTIVITY

STEP 1

INTRODUCTION

The Teachers outline a detailed explanation on the concept Financial benefits

Students pay

attention

STEP 2

EXPLANATION

Teacher discusses the types and their importance on the Nigeria economy.

Students pay

attention and

participate

STEP 3

NOTE TAKING

The teacher writes a summarized

note on the board

The students

copy the note in

their books

 

NOTE

FINANCIAL/ECONOMIC BENEFITS OF TOURISM TO THE NIGERIA ECONOMY.

Financial benefits refer to the advantages or gains that an individual, organization, or government entity receives in terms of monetary value. These benefits can arise from various sources and activities, including investments, business operations, employment, taxation, and savings. Examples of financial benefits include increased revenue, cost savings, investment returns, tax deductions, dividends, interest income, and capital appreciation.

Types of financial benefits of tourism

The following are types of financial benefits of tourism:

  1. Increased Revenue: Generated from sales of goods, services, or assets.
  2. Cost Savings: Resulting from efficiencies in operations, resource utilization, or strategic decision-making.
  3. Investment Returns: Profits earned from investments in stocks, bonds, real estate, or other financial instruments.
  4. Taxation: Benefits from tax incentives, deductions, credits, or reduced tax liabilities.
  5. Dividends: Payments made to shareholders from company profits.
  6. Interest Income: Earnings from interest on loans, savings accounts, or bonds.
  7. Capital Appreciation: Increase in the value of assets over time.

Importance of financial benefits of Tourism to the Nigerian economy:

  1. Financial benefits contribute to overall economic growth by increasing income levels, promoting investment, and stimulating consumer spending.
  2. Higher revenues and cost savings lead to business expansion and job creation, reducing unemployment rates and improving living standards.
  3. Taxation generates revenue for the government, which can be used for public infrastructure development, social programs, and economic initiatives.
  4. Positive financial outcomes attract domestic and foreign investors, leading to increased capital inflows and economic development.
  5. Financial benefits enable individuals and businesses to accumulate wealth, invest in productive activities, and build financial security for the future.
  6. By creating employment opportunities and increasing income levels, financial benefits help alleviate poverty and reduce income inequality.
  7. Increased revenue and tax revenues can be allocated to infrastructure projects, improving transportation, utilities, and other essential services, which are crucial for economic growth and development.

EVALUATION: 1. What is financial benefits of tourism?

  1. Mention and describes the types of financial benefits of tourism
  2. Identify 5 importance of financial benefits of tourism to the Nigeria economy.

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively