maunganidze 13.07.11.jpgZimbabwe tourism industry is set to further expand with records showing that the first six months of this year has seen investor confidence rising as evidenced by the number of tourism projects currently underway.

The tourism industry is this year expected to contribute more to the country’s gross domestic product as more investors continue to flock to Zimbabwe.

Permanent Secretary in the Ministry of Tourism and Hospitality Industry, Dr Sylvester Maunganidze who recently attended an investor conference in Cape Town said though the sector did not receive significant investments in the past decade, a number of investors are now coming into the country.

 

“We are beginning to see signs in the horizon of interest in this country. At a meeting in Cape Town, a lot of investors expressed interest in coming to Zimbabwe and all that they wanted to hear was how secure is their investment,” Dr Maunganidze said.

Among the projects underway are the 3-star hotel under construction in Beitbridge and a number of family lodges that were approved in Hwange and Victoria Falls among others.

Dr Maunganidze said as a follow up to the investor’s conference early this week, a delegation of serious tourism investors will be in the country for the next two weeks to scout areas of investment.

Key contributors to this rise in investor confidence are the aggressive marketing the country has been carrying worldwide, resulting in a 16% increase in tourist arrivals in the first quarter.

Discussions at the investment conference also centred on how governments can invite investments in hotels considering that SADC is the most peaceful and secure region in Africa.

The Zimbabwe Investment Authority (ZIA) has approved 75 investment projects valued at over US$900 million from January to May this year compared to 72 investment projects valued at US$104 million at the same period last year.