Zimbabwe, also named the ‘world of wonders,’ is one of the world’s leading destinations. Zimbabwe’s tourism sector is a perfect choice when contemplating Zimbabwe’s investment because of its countless natural and cultural wonders and favorable environment all year round. It is maybe the most exciting sector in Zimbabwe since it is the fastest-growing sector that provides GDP to the countries, and it is ever rising by 6.1%. The tourism industry in Zimbabwe hires over 90,000 workers and presents various business opportunities.
A general overview
Zimbabwe’s Tourism Authority (ZTA) figures indicate that the number of visitors arriving in Zimbabwe declined 11% in 2019 from 2.29 million in 2018, attributed to destination photos’ political unrest following elections in August 2018 and to the stay-off demonstrations in January 2019. Most tourists have come from Africa and the Middle East, while the number of arrivals from Europe, the Americas, Oceania, and Asia has decreased. The ZTA reported that the extreme macro and rapid inflation conditions led to the decline in hotel occupancy rates for the world over the same period. Due to the detrimental consequences of the COVID-19 pandemic and the reduction in foreign tourism, the scenario will further deteriorate in 2020.
In recent years, the government funded investment in capital in the tourism sector by providing tax benefits and duty-free import status in some capital categories to the hotel, restaurant, and safari operators. Wildlife photography and hunting tourism often offer tremendous growth opportunities. Still, some conservations had trouble securing trophy hunting permits from the government when citizens wanted to gain the property’s advantage for indigenization through political maneuvers. The U.S. act also forbids the introduction into the United States of elephant trophies.
In Victoria Falls, comparatively limited real estate rates provide possibilities for constructing hotels and lodges. The region could also be helped by the designation of Victoria Falls as a special economic zone for tourists and an International Financial Centre. The government also widened the runway to handle any form of jumbo jets at Victoria Falls airport to build a new terminal for passengers. This means the infrastructure (road, train, water, telecommunications, and energy) is redundant and rehabilitated. As the world transitions to sustainable tourism, expert preparation, and direct investment in eco-travel and adventure travel companies are available. The Zimbabwe investment authority also recognizes prospects for constructing meetings and exhibition centers, resorts and casinos, and shopping malls. Zimbabwe investment authority ZIA Many in Zimbabwe cater to lavish tourist lodges, but the possibilities to create locations in the medium-sized sector would improve as tourists’ number rises.