vic falls 01.09.10.jpgA research by the World Travel and Tourism Council has revealed that Zimbabwe’s tourism and hospitality industry is expected to become one of the world’s fastest growing sectors between 2011 and 2021.

The Economic Impact Research for 2011 to 2021 predicts a growth rate of 6,9 percent per annum, with annual revenue earnings of over US$850 million.

In an interview, Tourism and Hospitality Industry Minister, Cde Walter Mzembi, said the country is targeting to achieve annual revenues of US$5 billion by 2015.

Cde Mzembi said the tourism growth will largely be driven by rising living standards and new consumers mainly from countries such as China and India entering the market, boosting international travel and generating increasingly vibrant domestic tourism.

According to the report, emerging economies including Zimbabwe are expected to become increasingly important engines of tourism growth.

The growth is primarily a reflection of the economic activity generated by industries such as hotels, travel airlines and other passenger transportation services (excluding commuter services).

Last year, Zimbabwe earned US$770 million with 2,3 million international arrivals, up from US$523 million and two million arrivals recorded in 2009.