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To Boost the Dinar, Iraq Needs Tourism

When most of us think about the country of Iraq, we think about the War in Iraq, oil, Saddam Hussein and perhaps even terrorism. Needless to say, we don’t think of Iraq as a vacation destination. Even if we have a desire to visit the Middle East, places like Egypt, Dubai and Israel come to mind, not Iraq. Iraq must make tourism an important industry not only to boost the dinar and their economy, but also to improve international relations.

Iraq has so much history and culture that could be leveraged to attract tourists. The historic Tigris and Euphrates Rivers are located in Iraq and the region between the two rivers, Mesopotamia, is known as the birthplace of civilization. Mesopotamia was the home of the most sophisticated, ancient civilizations where writing and the wheel was invented. It was also known for its mathematical advancements, including the establishment of the 60 second minute, 24 hour day and the 360 degree circle. In addition, the National Museum of Iraq has some of the oldest ancient Iraq artifacts. Iraq has points of interest that could thrive as tourist attractions, which it should promote and develop to be an additional source of revenue. Tourism in Iraq will never be a revenue source to the scale like its oil trade, but it will help diversify Iraq’s economy and strengthen the dinar. As tourists come into Iraq, they must use Iraqi dinars to pay for hotels, food and souvenirs. Tourism will increase the demand for dinars and it will introduce Iraq and the dinar as potential investment opportunities to more people. To most of us, Iraq is an unknown land, we only know about the wars and instability – a thriving tourism industry would change that. In addition, tourism would have a positive impact for Iraq’s national identity as Iraq will be showcasing its country to the rest of the world. Tourism could spark a sense of pride and nationalism for Iraq and motivate the entire country to invest, develop and protect its assets and preserve its historic landmarks. What to do at sentosa singapore¬†

Tourism in Iraq will improve international relations, which will attract more foreign investment and better trade partners. Iraq is already a place with exciting investment opportunities and a bustling tourism industry would attract even more commitments to build attractions and bolster the service industry. Especially since a tourism industry is almost non existent in Iraq, think of the infrastructure that is lacking. More hotels, more restaurants, theme parks, souvenir shops and small businesses will be in need. This means more money into rebuilding Iraq and more importantly, domestic opportunities for employment and construction projects for Iraqi citizens. In addition, a positive externality to tourism would be improved relations between Iraq and other countries. As foreign citizens have good experiences with Iraq, a relationship will develop. More and more foreign citizens will visit. Private individuals may chose to invest in Iraq. If a positive and mutually beneficial relationship develops between foreign citizens and Iraq, in the long run, this could mean better trade arrangements on a government level. This is particularly important as Iraq must be strategic about its oil trade relationships.

 

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