Browsing: Investing in tourism


Tourism is and has been the world’s largest industry up until the Covid-19 pandemic hit in December last year. 

Countries both in the developed and developing world have seen ecotourism become the fastest growing sector within the tourism industry. With the potential it has, many governments have invested in the sector by ensuring that players are able to maximize output and productivity through rebates and tax relief which saw the sector grow in leaps and bounds. 

However, the pandemic put a damper stifling the growth of the sector and in some cases rolling back gains made over the past few years. 

In East Africa, ecotourism is a powerful economic force since it has largely made an impact in preventing environmental destruction when correctly managed. With the promotion of community development and empowerment, the sector has created employment in areas that were previously failing under what was commonly referred to as

The Mara Wildebeest migration- The Exchange

The tourism and travel sector is undoubtedly one of the worst hit globally following the outbreak of the COVID-19 pandemic.

Arising from the pandemic, the tourism and wildlife sector is experiencing unprecedented health and socio-economic crisis of unimagined proportions. Global response measures have devastated the sector occasioned by travel restrictions. There is undoubtedly no determined end in sight to the pandemic although global efforts to find vaccine(s) and develop guidelines on how to live with COVID-19 have picked momentum.

Also Read: How COVID-19 threatens tourism labour in Tanzania

According to the United Nations World Tourism Organization (UNWTO), tourism continued to outpace the global economy having recorded 1.5 billion international tourist arrivals in 2019 representing a 4% increase from the previous year.

Although the UNWTO had projected growth of about 3% to 4% in international tourist arrivals worldwide in 2020 based on the 2019 growth trends, economic prospects and the UNWTO…