SHERIDAN, WYOMING – July 30, 2024 – The United Nations World Tourism Organization (UNWTO) has released a comprehensive investment guide, titled "Tourism Doing Business—Investing in Zambia," aimed at showcasing the nation's burgeoning potential as a prime destination for sustainable tourism investments. This timely publication comes amidst growing international interest in Zambia's unique blend of economic stability, natural beauty, and cultural richness.
Zambia: A Rising Star in African Tourism
"This guide is not just a document; it's a catalyst for transformation," stated UNWTO Secretary-General Zurab Pololikashvili. "It's an open invitation to investors worldwide to discover the exceptional opportunities that Zambia's tourism sector holds – opportunities that promise not only financial returns but also contribute to sustainable development, job creation, and community empowerment."
The guide paints a compelling picture of Zambia's economic vitality, highlighting a decade of consistent growth averaging 3.2%, exceeding the Sub-Saharan Africa average. Forecasts from the International Monetary Fund (IMF) further solidify this positive trajectory, with projected growth rates of 4.3% in 2023, 4.7% in 2024, and 4.8% in 2025.This economic stability, coupled with Zambia's ranking as the 7th Best Country to do Business in Africa and 1st for Ease of Obtaining Credit, underscores its attractiveness for foreign direct investment.
A Tapestry of Natural and Cultural Riches
"Tourism Doing Business—Investing in Zambia" paints a vivid portrait of the nation's diverse tourism assets:
- Natural Wonders: Boasting 20 national parks and green spaces that cover a remarkable 30% of its landmass,Zambia is a haven for wildlife enthusiasts and eco-tourism ventures. Its diverse landscapes, ranging from the majestic Victoria Falls to the vast plains of South Luangwa National Park, offer unparalleled opportunities for nature-based tourism.
- Cultural Heritage: Home to over 70 ethnolinguistic groups, Zambia offers a rich tapestry of cultural experiences. From vibrant traditional ceremonies to ancient rock art sites, the country's cultural heritage is a treasure trove waiting to be explored and shared with the world.
- Investment-Friendly Climate: Zambia's commitment to attracting foreign investment is evident in its 16 investment promotion and protection agreements and its proactive approach to streamlining business setup processes.
Tourism as an Engine for Sustainable Growth
The guide underscores the transformative power of tourism investment in Zambia. Rodney Simbuka, Zambia's Minister of Tourism, emphasizes that "tourism investments are not only crucial for economic growth and job creation but also play a vital role in preserving our cultural heritage, conserving our natural resources, and empowering local communities." With the services sector contributing nearly 58% to GDP and employing 33% of the workforce, tourism has the potential to drive sustainable development across all facets of Zambian society.
A Call to Action for Global Investors
The UNWTO's publication serves as a clarion call to investors seeking to make a meaningful impact in a rapidly growing market. By investing in Zambia's tourism sector, stakeholders have the opportunity to contribute to a thriving economy while safeguarding the nation's natural and cultural treasures for generations to come.
As Zambia charts a course toward a sustainable and prosperous future, it welcomes the global community to join in its journey of growth, innovation, and environmental stewardship.