From Creativity to Wealth Creation: The Role of Innovation Processes in Nigerian Hospitality Firms

This study claims that the Nigerian tourism and hospitality industry must shift from traditional business practices to innovative, knowledge-based approaches to remain competitive and achieve long-term wealth creation. Facing volatility, evolving consumer demands, technological change, and sustainability pressures, the sector cannot rely on outdated models. Through a quantitative survey of 391 staff and top-level managers from the Nigerian Tourism Development Corporation and tourism organizations in Southwest and North-Central Nigeria, this research tests how creativity, knowledge management, and innovation operations, defined as value creation, environment, and capability, drive wealth creation. Findings through the Partial Least Squares Structural Equation Modeling show that innovation and knowledge management both directly and, through the mediating role of innovation operations, significantly enhance wealth creation. By highlighting how these factors interact, the study advances understanding of wealth creation dynamics between emerging and developed economies and delivers actionable recommendations for managers and policymakers to institutionalize innovation for sustainable industry growth.