Tourexpi
Zurab
Pololikashvili, Secretary General of UN Tourism, stated, “This publication will
lead to greater prosperity, job creation, community empowerment, and SME
expansion in Zambia. It offers a comprehensive overview of Zambia’s economic,
political, and social landscape, highlighting the vast opportunities within
Zambia’s tourism industry."
Rodney
Simbuka, Minister of Tourism of Zambia, said: "Investment in tourism is
pivotal not only for sustainable development, economic growth, job creation but
also the preservation of our rich cultural heritage and the conservation of our
natural resources creating opportunities for the local communities.”
Stability
and Growth in Zambia
According
to the International Monetary Fund (IMF), Zambia’s economic outlook is
promising, with projected growth rates of 4.3% in 2023, 4.7% in 2024, and 4.8%
in 2025. Zambia has maintained a steady growth rate of 3.2% over the past
decade, demonstrating economic stability that exceeds the Sub-Saharan Africa
average of 3.0%.
Reasons
to Invest in Zambia
“Tourism
Doing Business—Investing in Zambia,” outlines the opportunities for
international investors, emphasizing:
·
Zambia’s biodiversity and natural
resources make it an attractive destination for investors, with 30% of its
land (22.4 million hectares) dedicated to 20 national parks and green
spaces.
·
Zambia shares borders with eight other
countries. The location of this landlocked nation, along with its cultural
diversity, with more than 70 ethnolinguistic groups, are a few of its many
merits.
·
Zambia has been ranked the 7th
Best Country to do Business out of 54 African nations and the 1st for Ease
of Obtaining Credit in Africa after celebrating 60 years of peace and
stability.
·
Zambia offers attractive investment
incentives, with 16 investment promotion and protection agreements
currently in place.
Investing
in Tourism
Avenues
for investment in Zambia, such as the tourism sector, startups, and Foreign
Direct Investment (FDI), are attracting attention. Zambia has made its mark on
the global investment arena with an average of USD 969.7 million in FDI
receipts over the past decade. Zambia’s economic resilience, emphasis on
tourism education, tax incentives, and efficient business setup processes make
it a noteworthy prospect for investors.
The
services sector contributes to almost 58% to the Zambian economy and employs
33% of the country’s workforce. Fostering an investor-friendly climate
facilitates well-informed decision-making, enabling stakeholders to maximize
Zambia’s strengths and actively contribute to sustainable development
initiatives.
Image
Credit: © UN Tourism
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