UN Tourism Unveils a guide on sustainable tourism in Zambia for economic growth
UN GUIDE ON SUSTAINABLE TOURISM IN ZAMBIA AIMS TO DRIVE ECONOMIC GROWTH. IT HIGHLIGHTS INVESTMENT OPPORTUNITIES AND PROMOTES DEVELOPMENT.
UN Tourism has introduced a guide on sustainable tourism in Zambia, titled “Tourism Doing Business—Investing in Zambia.” The guide aims to spur economic growth across the nation.
Zurab Pololikashvili, Secretary General of UN Tourism, emphasized the guide’s benefits. “This publication will lead to greater prosperity, job creation, community empowerment, and SME expansion in Zambia,” he stated. It offers an in-depth view of Zambia’s economic, political, and social landscape, showcasing the vast opportunities in the tourism sector.
Economic Stability and Growth
Rodney Simbuka, Zambia’s Minister of Tourism, highlighted the importance of tourism investment. “Investment in tourism is crucial for sustainable development, economic growth, job creation, cultural heritage preservation, and natural resource conservation,” he said.
Zambia’s economic outlook is promising, with the IMF projecting growth rates of 4.3% in 2023, 4.7% in 2024, and 4.8% in 2025. Over the past decade, Zambia has maintained a steady growth rate of 3.2%, surpassing the Sub-Saharan Africa average of 3.0%.
“Tourism Doing Business—Investing in Zambia” highlights several investment opportunities. Zambia’s biodiversity and natural resources make it an attractive destination for investors. The country has 30% of its land dedicated to 20 national parks and green spaces. Zambia’s strategic location, bordered by eight countries and rich in cultural diversity, adds to its appeal.
Investing in Zambia’s Future
Zambia ranks as the 7th Best Country to do Business out of 54 African nations and 1st for Ease of Obtaining Credit in Africa. The country offers numerous investment incentives, including 16 investment promotion and protection agreements.
The services sector significantly contributes to the Zambian economy, accounting for almost 58% and employing 33% of the workforce. Zambia’s focus on tourism education, tax incentives, and efficient business setup processes makes it an attractive prospect for investors.
Zambia’s average FDI receipts over the past decade stand at USD 969.7 million, showcasing its resilience and investor-friendly climate.