World Bank: Africa’s Tourism Industry Set to Spur More Economic Growth and Jobs

Published on : Saturday, November 9, 2013

Hands touching a globeAccording to a new World Bank report, Africa’s tourism industry is set to spur more economic growth for the continent and directly employ 6.7 million people by 2021.

 

The report explores the potential of African countries to advance and expand their tourism sector, and suggests that 33 of Sub Saharan Africa’s 48 countries currently have the capacity for tourism success through establishing strong political support for developing the industry and attracting increased private investment to help finance and sustain it.

 

Tourism is increasingly enticing regional and international investment, and returns on investments in the sector remain among the highest in the world. Global hotel chains are expanding across Africa, recognizing investment potential and committing millions of dollars in new projects over the next few years to meet increased demand from both international tourists and the continent’s own fast-growing middle class.

 

If developed effectively and managed efficiently over time, tourism has the potential to advance Africa’s economic growth and job creation. It can also help accelerate the reforms needed to improve airline and road transport as well as other key infrastructure, besides raising the incomes of young men and women, who form a high percentage of the jobholders in the sector.

 

This report is the first to completely examine tourism in Sub-Saharan Africa at a regional level and to recommend practical evidence-based measures that could create an economic transformation by leveraging the tourism industry to help create jobs stem poverty and diversify economies.

 

With an analysis of 24 tourism case studies from around the world, the report is a precious and timely contribution to efforts to build a framework for sustainable tourism in Africa. It also identifies policies and institutional approaches for African countries to make their tourism industry more competitive and attractive to investors.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 wtm_london17
  • 04 AIME 2018
  • 12 indywood 17
  • 16 TT Warsaw 2017
  • 18 TTF17
  • 19 Emitt 18
  • 19 IITM
  • 43 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com