The government has intensified efforts towards the finalisation of the tourism satellite account, a system that will enable for the correct measurement of sector’s contribution to the country’s economic performance.
The project which was earmarked for completion in 2014, has dragged for almost 3 years due to a number of limiting factors.
However, the government seems to have gone over the tide as it is currently engaged in a number of exercises that will lead to the finalisation of the tourism satellite account to be used as the main tool for the economic measurement of tourism.
The satellite account will assist the government in reconciling arrival figures and revenue generated, thereby providing transparency around the mismatch of statistics that have dogged the industry over the years.
At the unveiling of the $15 million development facility, the government shared this as well as other strategies for the sector in the 100 day plan.
The tourism sector has attracted optimism of the central bank which believes it has the potential to grow its contribution to the country’s GDP from 11 percent to 20 percent in the medium term.