Zimbabwe is projecting a 30 percent increase in proceeds from trophy hunting this season buoyed by renewed interest from traditional source markets as well as a conducive environment for the safari business.
It’s an industry that holds a lot of potential to generate key revenue for the fiscus, while at the same time creating livelihoods for communities who will benefit from the proceeds of trophy hunting.
Given the significant increase in the population of wildlife particularly elephants in the Hwange National Park and other wildlife areas in the country, the country has an opportunity to generate revenue from this resource.
Trophy hunting also works as a conservation tool to manage human wildlife conflict.
Proceeds from this year’s hunting season are projected to rise significantly from the revenue generated by the industry last year boosted by renewed interest from traditional markets.
The estimate of the total revenue generated by the industry is pegged at $100 million but this figure could be more if a proper accounting system is put in place to track all the receipts of sales in this industry.
It’s for this reason that the sector is calling on relevant authorities to expedite the process of setting up a satellite accounting system to effectively collate the statistics and provide accurate data on the revenues realised in the industry.