Introduction: The role of culture in the economic development of countries is often overlooked by economists, yet it can significantly affect a country's economic development. Culture generates assets, such as skills, products, expression, and insight that contribute to the social and economic well being of the community. I will show the benefit of culture's impact on economic development through tourism, social capital, and corporate governance. In contrast, culture can produce negative outcomes in economic development. Cultural issues, such as gender inequality, lack of social capital, and diminishing cultural heritages, contribute to a downgrading economy. To understand culture's impact on a country's economic development, it is important to understand what culture is: a system of values and norms that are shared among a group of people and that when taken together constitute a design for living (Hill 98).

Furthermore, it is about the way the people live, and how the quality of their lives can be improved. It shapes "the way things are done" and our understanding of why this should be so. Culture is concerned with identity, aspiration, symbolic exchange, coordination, and structures and practices that serve relational ends, such as ethnicity, rituals, heritage, norms, meanings, and beliefs. It is not a set of primitive wonders permanently embedded within national, religious, or other groups, but rather a set of contested attributes, constantly changing, both shaping and being shaped by social and economic aspects of human interaction. Economic development is fundamentally about enhancing the factors of productive capacity, such as land, labor, capital, and technology, of a national, state, or local economy, as stated by the U.

S. Economic Development Administration. Economic development influences growth and restructuring of an economy to enhance economic well-being. We experience economic growth when our standard of living is rising. Rather than being a simplistic process, economic development typically is a range of influences aimed at achieving objectives like creating jobs and wealth and improving the quality of life.

It incorporates coordinated initiatives targeted at expanding infrastructure and increasing the volume and / or quality of goods and services produced by a community. A common measure of economic development is a country's gross national product per head of population (Hill 62). Review of Key Arguments: Cultural tourism is becoming an established part of national and local economic development programs across the world. Regions struggling to maintain a favorable balance of trade without the benefit of manufacturing industries sometimes find that tourism offers the only development option. A number of countries have diversified traditional tourism strategies to include the cultural experiences that tourists increasingly want. Tourism helps improve the local economy and people's living standards.

This is very important for the economic development in remote and disadvantaged areas. As much as 90 percent of tourism revenue produces social income through expenditure in trade services, entertainment, food, and transport (web). It also generates many new jobs with each person directly involved in tourism generally creating indirect jobs for another two people. The development of sustainable tourism will attract more people to become involved in introducing new tourism products, protecting the environment, and preserving historical and cultural sites. Many localities are becoming increasingly aware of the contributions of tourism to the increase of their GDP growth, so they have produced various investment strategies for tourism development in their regions. The strength of social capital, in the form of leadership, partnerships, and community spirit, is another important driver of economic growth and development.

Social capital is a community's human wealth: the sum total of its skills, knowledge, and partnerships. It is a powerful element for sustainable development because it ties together local capacity, indigenous knowledge and self-reliance rather than depending on external inputs. Social capital can improve access to resources, services, and opportunities. It can build trust, confidence, and reciprocity to ultimately promote local involvement, group action, and control. The process of cooperation when citizens are actively engaged in the development of their communities awards intangible rewards, such as joy, happiness, job satisfaction, affection, and social support.

At its simplest, culture is itself a form of social capital. When a community comes together to share cultural life, through celebration and intercultural dialogue, it is enhancing its relationships, partnerships and networks. In other words, it is developing social capital. Positive attitudes in terms of local behavior contribute to their general well-being. The factors that make up social capital play a decisive role in the better economic performance, better quality of government, and greater political stability of a country's economic development.

Organizations are increasing their international and competitive business environments. As a result, the culture of an organization and the culture of the country where it is located have become increasingly important factors affecting organization performance. This in turn affects the economic development outcome of its host country. Governance is concerned with issues as diverse as administration, law enforcement, civic engagement, citizen participation, and promotion of equality.

The concept of universal human rights ratifies the idea that everyone has fundamental rights and freedoms. Still, there is growing international recognition of distinctions between individual and collective human rights. Culture is a major factor influencing how governance and human rights are conceptualized and put into practice. Corporate governance comprises a country's private and public institutions, both formal and informal, which together govern the relationship between the people who manage corporations and all others who invest resources in corporations in the country. These institutions notably include the country's corporate laws, securities laws, accounting rules, generally accepted business practices and prevailing business ethics. Although legislative and regulatory frameworks for culture are mainly invisible components of the socio-political environment, they have a profound impact on the development of a community, region, nation, and future generations.

Corporate governance matters not only for the health of a country's corporate sector, but it also matters for the country's entire economy. Good corporate governance plays a vital role in underpinning the integrity and efficiency of financial markets. Poor corporate governance weakens a company's potential and at worst can pave the way for financial difficulties and even fraud. If companies are well governed, they will usually outperform other companies and will be able to attract investors whose support can help to finance further growth. (web). Corporate governance is about the way in which boards oversee the running of a company by its managers, and how board members are in turn accountable to shareholders and the company.

This has implications for company behavior towards employees, shareholders, customers and banks. Good corporate governance plays a vital role in underpinning the integrity and efficiency of financial markets. Poor corporate governance weakens a company's potential and at worst can pave the way for financial difficulties and even fraud. If companies are well governed, they will usually outperform other companies and will be able to attract investors whose support can help to finance further growth (web).

The quality of a country's institutions of governance matters greatly for national development. The institutions of corporate governance serve two indispensable, and ultimately inseparable, objectives: enhancing the performance and ensuring the congruity of corporations. These objectives facilitate and stimulate the performance of corporations. They are the principal generators of economic wealth and growth in society, creating and maintaining a business environment that motivates managers and entrepreneurs to maximize operational efficiency, returns on investment, and long-term productivity growth.

Corporate performance and congruity ensure conformance with investors, social interests, and expectations by limiting the abuse of power and siphoning off assets. They also regulate the moral hazard and significant wastage of corporate controlled resources. Without corporate conformance, the self-serving managers and other corporate insiders can be expected to impose these burdens on investors and society, inducing corporate discord as well as hindering its performance. On the other hand, they also establish the means to monitor managers' behavior. This ensures corporate accountability and provides for the cost-effective protection of investors' and society's interests.

Overall, they can be understood as serving to determine what society considers to be acceptable standards of corporate behavior and to ensure that corporations comply with those standards. Gender inequality reduces economic growth, which is an important issue to the extent that economic growth furthers the improvement of well-being. However, it remains prevalent throughout the world. Gender inequality tends to lower the productivity of labor and the efficiency of labor allocation in households and the economy, intensifying the unequal distribution of resources (Gender Equality 1). Many multi-lateral development agencies recognize that development effectiveness can be enhanced by ensuring that gender perspectives, and attention to the goal of gender equality, are central to all their activities: policy development, research, dialogue, legislation, budgeting, and planning, implementation, and monitoring of programs and projects. Gender, like race or ethnicity, functions as an organizing principle for society because of the cultural meanings given to being male or female.

This is evident in the division of labor according to gender. In most societies, there are clear patterns of "women's work" and "men's work," both in the household and in the wider community. In industrial countries, women in the wage sector earn an average of 77 percent of what men earn; in developing countries, they earn 73 percent (Gender Equality 4). The patterns and the explanations differ among societies and change over time. While the specific nature of gender relations varies among societies, the general pattern is that women have less personal independence, fewer resources at their disposal, and limited influence over the decision-making processes that shape their societies and their own lives. This pattern of disparity based on gender is a human rights and development issue.

With an increasingly global economy and the international flow of products, media imagesroduction: The role of culture in the economic development of countries is often overlooked by economists, yet it can significantly affect a country's economic development. Culture generates assets, such as skills, products, expression, and insight that contribute to the social and economic well being of the community. I will show the benefit of culture's impact on economic development through tourism, social capital, and corporate governance. In contrast, culture can produce negative outcomes in economic development. Cultural issues, such as gender inequality, lack of social capital, and diminishing cultural heritages, contribute to a downgrading economy. To understand culture's impact on a country's economic development, it is important to understand what culture is: a system of values and norms that are shared among a group of people and that when taken together constitute a design for living (Hill 98).

Furthermore, it is about the way the people live, and how the quality of their lives can be improved. It shapes "the way things are done" and our understanding of why this should be so. Culture is concerned with identity, aspiration, symbolic exchange, coordination, and structures and practices that serve relational ends, such as ethnicity, rituals, heritage, norms, meanings, and beliefs. It is not a set of primitive wonders permanently embedded within national, religious, or other groups, but rather a set of contested attributes, constantly changing, both shaping and being shaped by social and economic aspects of human interaction. Economic development is fundamentally about enhancing the factors of productive capacity, such as land, labor, capital, and technology, of a national, state, or local economy, as stated by the U. S.

Economic Development Administration. Economic development influences growth and restructuring of an economy to enhance economic well-being. We experience economic growth when our standard of living is rising. Rather than being a simplistic process, economic development typically is a range of influences aimed at achieving objectives like creating jobs and wealth and improving the quality of life. It incorporates coordinated initiatives targeted at expanding infrastructure and increasing the volume and / or quality of goods and services produced by a community. A common measure of economic development is a country's gross national product per head of population (Hill 62).

Review of Key Arguments: Cultural tourism is becoming an established part of national and local economic development programs across the world. Regions struggling to maintain a favorable balance of trade without the benefit of manufacturing industries sometimes find that tourism offers the only development option. A number of countries have diversified traditional tourism strategies to include the cultural experiences that tourists increasingly want. Tourism helps improve the local economy and people's living standards. This is very important for the economic development in remote and disadvantaged areas.

As much as 90 percent of tourism revenue produces social income through expenditure in trade services, entertainment, food, and transport (web). It also generates many new jobs with each person directly involved in tourism generally creating indirect jobs for another two people. The development of sustainable tourism will attract more people to become involved in introducing new tourism products, protecting the environment, and preserving historical and cultural sites. Many localities are becoming increasingly aware of the contributions of tourism to the increase of their GDP growth, so they have produced various investment strategies for tourism development in their regions. The strength of social capital, in the form of leadership, partnerships, and community spirit, is another important driver of economic growth and development. Social capital is a community's human wealth: the sum total of its skills, knowledge, and partnerships.

It is a powerful element for sustainable development because it ties together local capacity, indigenous knowledge and self-reliance rather than depending on external inputs. Social capital can improve access to resources, services, and opportunities. It can build trust, confidence, and reciprocity to ultimately promote local involvement, group action, and control. The process of cooperation when citizens are actively engaged in the development of their communities awards intangible rewards, such as joy, happiness, job satisfaction, affection, and social support. At its simplest, culture is itself a form of social capital. When a community comes together to share cultural life, through celebration and intercultural dialogue, it is enhancing its relationships, partnerships and networks.

In other words, it is developing social capital. Positive attitudes in terms of local behavior contribute to their general well-being. The factors that make up social capital play a decisive role in the better economic performance, better quality of government, and greater political stability of a country's economic development. Organizations are increasing their international and competitive business environments. As a result, the culture of an organization and the culture of the country where it is located have become increasingly important factors affecting organization performance. This in turn affects the economic development outcome of its host country.

Governance is concerned with issues as diverse as administration, law enforcement, civic engagement, citizen participation, and promotion of equality. The concept of universal human rights ratifies the idea that everyone has fundamental rights and freedoms. Still, there is growing international recognition of distinctions between individual and collective human rights. Culture is a major factor influencing how governance and human rights are conceptualized and put into practice. Corporate governance comprises a country's private and public institutions, both formal and informal, which together govern the relationship between the people who manage corporations and all others who invest resources in corporations in the country.

These institutions notably include the country's corporate laws, securities laws, accounting rules, generally accepted business practices and prevailing business ethics. Although legislative and regulatory frameworks for culture are mainly invisible components of the socio-political environment, they have a profound impact on the development of a community, region, nation, and future generations. Corporate governance matters not only for the health of a country's corporate sector, but it also matters for the country's entire economy. Good corporate governance plays a vital role in underpinning the integrity and efficiency of financial markets.

Poor corporate governance weakens a company's potential and at worst can pave the way for financial difficulties and even fraud. If companies are well governed, they will usually outperform other companies and will be able to attract investors whose support can help to finance further growth. (web). Corporate governance is about the way in which boards oversee the running of a company by its managers, and how board members are in turn accountable to shareholders and the company. This has implications for company behavior towards employees, shareholders, customers and banks. Good corporate governance plays a vital role in underpinning the integrity and efficiency of financial markets.

Poor corporate governance weakens a company's potential and at worst can pave the way for financial difficulties and even fraud. If companies are well governed, they will usually outperform other companies and will be able to attract investors whose support can help to finance further growth (web). The quality of a country's institutions of governance matters greatly for national development. The institutions of corporate governance serve two indispensable, and ultimately inseparable, objectives: enhancing the performance and ensuring the congruity of corporations. These objectives facilitate and stimulate the performance of corporations. They are the principal generators of economic wealth and growth in society, creating and maintaining a business environment that motivates managers and entrepreneurs to maximize operational efficiency, returns on investment, and long-term productivity growth.

Corporate performance and congruity ensure conformance with investors, social interests, and expectations by limiting the abuse of power and siphoning off assets. They also regulate the moral hazard and significant wastage of corporate controlled resources. Without corporate conformance, the self-serving managers and other corporate insiders can be expected to impose these burdens on investors and society, inducing corporate discord as well as hindering its performance. On the other hand, they also establish the means to monitor managers' behavior. This ensures corporate accountability and provides for the cost-effective protection of investors' and society's interests. Overall, they can be understood as serving to determine what society considers to be acceptable standards of corporate behavior and to ensure that corporations comply with those standards.

Gender inequality reduces economic growth, which is an important issue to the extent that economic growth furthers the improvement of well-being. However, it remains prevalent throughout the world. Gender inequality tends to lower the productivity of labor and the efficiency of labor allocation in households and the economy, intensifying the unequal distribution of resources (Gender Equality 1). Many multi-lateral development agencies recognize that development effectiveness can be enhanced by ensuring that gender perspectives, and attention to the goal of gender equality, are central to all their activities: policy development, research, dialogue, legislation, budgeting, and planning, implementation, and monitoring of programs and projects. Gender, like race or ethnicity, functions as an organizing principle for society because of the cultural meanings given to being male or female.

This is evident in the division of labor according to gender. In most societies, there are clear patterns of "women's work" and "men's work," both in the household and in the wider community. In industrial countries, women in the wage sector earn an average of 77 percent of what men earn; in developing countries, they earn 73 percent (Gender Equality 4). The patterns and the explanations differ among societies and change over time.

While the specific nature of gender relations varies among societies, the general pattern is that women have less personal independence, fewer resources at their disposal, and limited influence over the decision-making processes that shape their societies and their own lives. This pattern of disparity based on gender is a human rights and development issue. With an increasingly global economy and the international flow of products, media images.