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Tourism Sector Expected to Grow by 20% in 2018, as Gvt Woo London Investors

Zimbabwe’s tourism sector is expected to grow by more than twenty percent this year, outperforming last year’s 2.5 million visitors who toured the country’s resort areas.

Addressing foreign investor community at an investment forum dubbed ‘Invest Zimbabwe’ in London, on Thursday, Minister of Environment, Tourism and Hospitality Industry, Priscah Mupfumira, said Zimbabwe, remains an attractive tourist destination given its exclusive natural wonders, which offers great investment opportunities for potential investors in the sector, hence, the envisioned growth this year.

“Tourism continues to be a key generator of foreign currency for Zimbabwe, with the sector expected to grow by more than 20 percent in 2018, surpassing 2.5 million arrivals. Zimbabwe’s unique offerings of flora and fauna, and world heritage sites such as the Victoria Falls, avails major opportunities for tourism-sector investment,” said Mupfumira.

The expected growth comes at a time Zimbabwe, was recently selected by an international travel guide publisher, Lonely Planet, as one of the best tourist destinations in the world to visit in 2019.

Mupfumira added that the country is currently seeking investors in hotel and conference centre development, educational tourism, medical tourism and retail and leisure park development among others.

The minister also told the investor community that the country is open to win-win investment initiatives in other sectors of the economy, which will be spearheaded by a soon-to-be launched, Zimbabwe Investment and Development Agency.

“Zimbabwe seeks win-win investment projects, joint ventures, public-private partnerships and development initiatives.

To sharpen and enhance the institutional framework for facilitating Foreign Direct Investment (FDI) – and indeed domestic and Diaspora investment – the Government of Zimbabwe is currently setting up an amalgamated structure, called the Zimbabwe Investment and Development Agency (ZIDA), whose main mandate will be to facilitate investments under one roof. In the meantime, the One-Stop Investment Services Centre (OSISC) is coordinating the amalgamation process as well as dealing with current investment enquiries, and we shall be hearing more on that in the next session,” she said.

Meanwhile, in October 2018, Government adopted the Transitional Stabilisation Programme, titled ‘Towards a Prosperous and Empowered Upper Middle Income Society by 2030.’

Among the outcomes of the Transitional Stabilisation Programme shall be the restoration of fiscal balance and the programme also seeks to enhance the competitiveness of Zimbabwean exporters on the international markets.

The event was organized by the African Branding Corporation, and is running for one week in Canary Wharf, London.

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