Tourism Industry To Grow By 9.7%

The World Tourism & Travel Council (WTTC) has predicted Ghana�s tourism sector to grow by 9.7 per cent this year, more than the forecasted national economic growth of 8%. The World Tourism Council, which pegged the tourism industry growth at 6.7% last year is confident the industry will grow by an average of 4.5 per cent in the next decade on the back of a strong government�s backed development programme. The Council in its Economic Impact 2013 report observed that the government�s 15-year National Tourism Development Plan (NTDP), introduced in 2013, will act as a roadmap for new industry growth as efforts to create a more diversified tourism industry for the country will include a drive to attract new investment, with a particular focus on filling infrastructure gaps through public-private partnerships (PPPs). �Capital investment in Ghana�s travel and tourism industry should increase by 5.2% in 2013, rising by a further 2.8% over the 10-year period to 2023,� it said. Government officials expect international visitor numbers to reach 4.3m annually by 2027, up from 1.26m in 2012 amidst government�s anticipation that the industry�s annual contribution to the Ghanaian economy would reach $8.3bn over the same period. The latest report of the World Tourism Council is consistent with an earlier report by global accounting firm, Ernst & Young, which ranked among the top three countries in sub-Saharan Africa in attracting significant investment into hotel development as the country�s economic growth attracts investors� interest. As a result, Ghana has been ranked third in hotel development in sub-Saharan Africa in 2013 with more than 1,400 hotel rooms under development, placing the country in a better position alongside Nigeria for lodging growth as a result of its economic prospects and infrastructure development. Nonetheless, the report noted that growth in hotel lodging in Ghana is being hampered by the average price tag for a hotel room, which opens up an opportunity for small and mid-sized hotels.