Published on : Monday, September 11, 2017
Hospitality & Gaming Industry leader for PwC Southern Africa, Pietro Calicchio said “The growth potential of Africa is high mainly because of the rapid economic growth in some economies, a growing middle class and an increase in visits from foreign visitors. The emerging markets are a sought after destination for foreign investors – it is in these markets where there is continued economic growth and a need for additional infrastructure. In addition, governments and policy makers are introducing a range of tax incentives and other incentive schemes to foreign investors.”
In spite of foreign investment improving substantially in Africa over the past several years, it is not without challenges. Some of these challenges include a drop in oil prices and other commodities, social unrest, unstable electricity supply and the impact of one of the most severe droughts across the African continent.
The hotel sector in Ghana has remained strong in spite of recent global economic challenges. Following the collapse in the oil price and that of other commodities, the government has taken steps to diversify the economy, including promoting the hospitality and tourism sector. Ghana’s hospitality industry grew 1.2% from 2015 to 2016. Ghana tourism is expected to grow even more.
The government is also making improvements in transport infrastructure, with the construction of a third terminal at Accra’s Kotoka International Airport and allocation of funds for the repair of roads to popular tourist destinations.
Tags: Ghana’s tourism industry