Home⇛Journal of Interdisciplinary Perspectives⇛vol. 2 no. 11 (2024)

MSMEs as Catalysts for Growth: Analyzing their Contribution to Food Tour Development and Local Economic Sustainability

Mona Luisa C. de Guzman | Marissa S. Quezon

Discipline: others in business and management

 

Abstract:

This study used a descriptive correlational approach to determine MSMEs' competitiveness and contributions to food tour development in Iloilo City. The study's respondents were entrepreneurs who managed and/or owned micro, small, and medium-sized businesses in Iloilo City, engaged in the food industry, and were either part of or considered part of the tourist circuit. A modified survey instrument addressed the study's concerns and was the primary data source. A validity score of 4.64 and a reliability Cronbach alpha of 0.980 indicates that the instrument is valid and very reliable. Descriptive and inferential statistical tools were used for statistical treatment. Key findings indicate that food-related MSMEs in Iloilo City are moderately competitive in their capacity to compete, connect, and change. A modest contribution to the growth of food tours through job creation and product offering but a low contribution to total monthly sales. A positive direct relationship was found between business competitiveness and contribution to food tour development. Entrepreneurial age and educational level have been shown to influence how much enterprises contribute to food tour development. The findings of this study may be applied to the growth and management of MSMEs in Iloilo City, making them more competitive agents of food tour development. Any organization that wants to be competitive should strategically form good partnerships to get amazing outcomes. Using positioning and uniqueness to catch visitors' attention, food-related MSMEs may leverage tourists who value food in their travel reasons. Appreciating local food resources and paying close attention to how they are presented and promoted to the public would likely attract tourists and increase tourism earnings.



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