Browsing: African Tourism Organization

According to the 2022 National Tourism Survey, tourism earnings in Tanzania have shown positive comeback post Covid-19.

The figures indicate a good recovery trajectory with data showing that the sector is up 83% having earned an impressive 1.4 billion USD and tourist receipts of 922,692 which represents an increase of about 48.6% compared to the 2020 performance.

According to the Tanzania National Five Year Development Plan 2021/2022-2025/2026, the country targets to attract 5 million tourists and garner revenues of US$ 6 billion.

The tourism sector contributes to the country’s GDP by an impressive 17%, and its contribution to foreign exchange earnings is more than a quarter (25 percent) of the country’s total foreign exchange earnings.

By agreeing to remove double taxation the countries also agree to remove barriers to bilateral investment and trade between one other. It is just as well because trade and investment between the two are growing.

Only recently the UAE renewable energy firm Masdar went into a deal with Tanzania to conduct several solar and wind power projects in the country.  Similarly, the Emirates also signed several trade financing agreements with a few countries in West Africa as the UAE makes its mark in global economic growth.

Qatar is only the latest of the United Arab Emirates that Tanzania is making trade and investment deals with. In February this year, Tanzania participated at the World Expo Dubai 2020 to promote its products and opportunities.