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What is Production-Based Economy

Entrepreneurship Education in Tourism and Hospitality Management
A production-based economy uses labour, capital, goods, and services as inputs to produce outputs of goods or services and is controlled and supervised by an institutional unit.
Published in Chapter:
Entrepreneurship Education Development in the Context of Tourism in Oman
Mohit Kukreti (University of Technology and Applied Sciences, Oman), M. R. Dileep (Pazahassiraja College, University of Calicut, Kerala, India), and Aarti Dangwal (Chandigarh University, India)
Copyright: © 2022 |Pages: 33
DOI: 10.4018/978-1-7998-9510-7.ch004
An entrepreneurship is a key factor for any country that aims to become competitive in the knowledge-based global market as it is viewed as a means of promoting economic growth, innovation, and creativity. This opinion has given rise to growing interest in establishing entrepreneurship educational programmes by several countries including Oman. The government of Oman has taken tourism as one of the main economic sectors to diversify its oil-based economy. This chapter focuses on the facilities provided by the government of Sultanate of Oman to encourage and motivate growth of new ventures with context to entrepreneurship education, how the government of Oman is monitoring and assessing its initiatives and strategies, planned and implemented to establish entrepreneurship education in tourism context. The chapter also proposed a conceptual framework on entrepreneurship education in tourism context which can be considered by the policy makers to measure the efficacy and efficiency of the entrepreneurship education strategies and policies.
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