Browsing: tOURISM aFRICA

Zanzibar is leasing out more than 50 small islands to promote Zanzibar tourist attractions.

The goal here is to have more companies register on the island to increase Zanzibar’s internal revenue through taxes and related fees. The move is also expected to create employment on the island as companies open subsidiaries they will naturally have to hire.

Overall, according to the International Monetary Fund (IMF ), last year’s growth of around 4 per cent is expected to pick up to about 5½ per cent this year and to then maintain a steady growth of the next few years, assuming no other pandemic strikes that are.

Ceterisperibus, should the economic reforms announced by the new administration and the envisaged improvements in the business climate materialize, then medium-term growth could reach 6 per cent, says the IMF.…