Tourism takes centre stage as Zimbabwe pursues Vision 2030

Nqobile Bhebhe, Zimpapers Business Hub

AS Zimbabwe intensifies initiatives towards the realisation of its Vision 2030 targets, the spotlight is turning to the tourism sector as a key driver of inclusive economic growth.

Tourism is already a key element of Zimbabwe’s economy, estimated to contribute between 12 and 15 percent to the country’s gross domestic product (GDP) and has surpassed the Government’s target of US$5 billion industry by 2025.

The sector is considered one of the fastest-growing and is a critical pillar of the economy, expected to be a leading contributor to GDP.

Tourism and Hospitality Industry Minister, Barbara Rwodzi, recently announced a new target to grow the country’s tourism sector to US$10 billion industry by 2030.

Key strategies to reach this new target include upgrading and building airports, promoting Meetings, Incentives, Conferences and Exhibitions (MICE) tourism, boosting eco-tourism and cultural travel and encouraging investment in hospitality infrastructure.

Officials and stakeholders agree that the next generation of tourism investments must be bankable, sustainable and strategically aligned with national development priorities.

Bankable projects are vital because they serve as the bridge between visionary ideas and tangible investment.
Without clear financial viability, technical feasibility, and alignment with policy frameworks, tourism initiatives risk remaining proposals on paper.

In a competitive global investment landscape, only projects that meet rigorous quality standards can attract the capital needed to unlock Zimbabwe’s tourism potential.

This came out at the Sanganai/Hlanganani/Kumbanayi World Tourism Expo Investment Conference in Mutare from September 10-12, 2025.

Delegates noted that the country is ripe for mega investments.
Tourism, recognised under the National Development Strategy 1 (NDS1) and its successor NDS2 as a key pillar in the country’s march towards an upper-middle-income economy by 2030, is fast emerging as one of the most resilient and growth-oriented sectors of the economy.

Addressing delegates during the expo, Zimbabwe Invest head of project development, Mr Taurai Duku, said it gave an incisive run-down of bankable projects.

“A bankable tourism project is one that solves a real problem, aligns with national priorities, delivers measurable impact and speaks the language of investors through clear metrics, sustainability and readiness,” said Mr Duku.

This renewed focus comes amid efforts to unlock private sector financing and donor support for tourism ventures that go beyond traditional sightseeing.

The Government is now championing a structured, multi-tiered planning approach to ensure that tourism projects are not only viable but also transformative.

“This is a multi-tiered process, starting from the National Development Strategy (NDS), trickling down to the provincial strategy and culminating in local authority development plans,” he explained.

“This approach ensures strategic alignment, geographical relevance, and community focus of projects. And allows for a targeted approach to project selection, addressing the unique needs and challenges of each province, trickling down to the local communities, driving towards the attainment of Vision 2030.”

At the heart of this strategy is the transformation of Zimbabwe’s rich natural, cultural, and historical assets into sustainable tourism products. These must be designed to attract investment while preserving the integrity of the environment and heritage.

“Turning natural, cultural, or historical assets into sustainable tourism products, ensuring alignment with national and local development strategies and preparing projects that attract private sector investment,” the official added.

The expo, organised by the Ministry of Tourism and Hospitality Industry in collaboration with the Zimbabwe Tourism Authority (ZTA), has projected Zimbabwe as Africa’s premier tourism marketplace, showcasing the country and continent’s tourism assets and facilitating serious business-to-business engagement.

The expo carries added weight this year, coming soon after the launch of the National Tourism and Hospitality Policy (2025–2030), which anchors tourism at the heart of Zimbabwe’s economic development agenda.

To buttress that the Zimbabwe tourism sector is ripe for investments, delegates heard that the Reserve Bank of Zimbabwe (RBZ) has unveiled a comprehensive Back-to-Basics strategy that is characterised by currency stability, efficient payment systems and a liberalised capital framework, which are the fundamental pillars for unlocking significant investment, particularly in the nation’s growing tourism sector.

Deputy director at the central bank, Mr William Manhimanzi, reaffirmed RBZ’s commitment towards providing an enabling environment for tourism sector investment, saying the Central Bank is playing a crucial role in creating a predictable and secure economic landscape attractive to both domestic and international investors.

Mr Manhimanzi said the core mandate of price and financial system stability is the bedrock upon which trade and investment are built.

“The prerequisites for facilitating investment flows are: a stable, reliable and predictable currency, a reliable, efficient and accessible payment system (and) a stable, resilient and integral financial system,” he said.

He said these are foundational elements the RBZ is focused on delivering.
He told delegates that the central bank is cognisant of the importance of exchange rate stability, a historical challenge for Zimbabwe.

“Exchange rate stability remains a cornerstone of economic confidence and enhances a country’s investment appeal,” he said.
He said the adverse effects of volatility lead to pricing uncertainties as inflation gallops, leading to loss of savings.

Conversely, a stable currency allows businesses in tourism and related sectors to make long-term investment decisions with confidence, ensuring predictability in costs and the value of their returns.

Beyond currency stability, Mr Manhimanzi outlined the RBZ’s role in ensuring seamless financial transactions.
He pointed to the National Payment System as critical for facilitating the transfer of funds within the country and cross-border, coordinating with banks, fintech firms and international organisations to keep systems running efficiently.

He said one of the most encouraging initiatives for foreign investors eyeing Zimbabwe’s tourism potential was the comments on foreign exchange management.

“The RBZ is fostering a liberalised environment to support the smooth flow of current and capital account transactions. This includes facilitating offshore payments and remittability of profits and dividends to foreign shareholders and allowing for capital repatriation, investment remittances and dividend transfers,” he said.

This marks a significant shift towards building investor confidence, acknowledging past struggles.
Mr Manhimanzi said the nation has a long history of macroeconomic instability, which created a serious confidence and credibility deficit in the Central Bank’s Monetary Policies.

“In response, the RBZ has adopted a Back to Basics Strategy since April 2024, which seeks to regain public confidence and trust in policy formulation and implementation with a view to ‘Build Market Confidence, Trust and Policy Credibility.’

The focus is now squarely on the bank’s core objectives, moving away from the currency and exchange rate volatility, high inflation and loss of savings that previously hampered investment,” he said.

For the tourism sector, which thrives on international visitors and foreign direct investment, the RBZ’s renewed focus on these fundamentals signals a promising new chapter.

By prioritising a stable currency, efficient payments and flexible capital flows, the Central Bank is working to ensure that Zimbabwe’s world-class tourist attractions are supported by a world-class financial environment, paving the way for sustainable growth and investment.

Sustainability is no longer a buzzword — it is a prerequisite.
Defined as the ability to meet present needs without compromising future generations, sustainable tourism ensures the long-term viability of destinations while benefiting communities and preserving the environment.

It protects natural and cultural assets, enhances community participation and ownership, attracts impact investors and donor funding and aligns with global ESG (Environmental, Social, Governance) standards.

To be considered bankable, Mr Duku said a project must meet the criteria of financiers. While private sector investors focus on financial returns, public and donor institutions consider social, environmental, and developmental impact.

Criteria vary by investor type and mandate, but key indicators include realistic revenue and cost assumptions, technical, legal, environmental, and financial readiness, tailored to investor risk appetite, national and local development priorities, job creation and local Economic Impact that looks at contribution to GDP, SMEs growth and community development.

Officially opening the tourism expo, President Mnangagwa reaffirmed the Government’s commitment to leveraging on tourism sector as a powerful engine for economic growth, community empowerment and environmental conservation.

He said the country was riding this wave of growth by leveraging its unique blend of natural beauty, wildlife, heritage and cultural richness.

The President said tourism continues to play a pivotal role in national development, providing broad-based economic benefits across the country.

“Tourism is a global powerhouse for economic development,” said President Mnangagwa.
“According to the UN Tourism Barometer, international tourist arrivals grew by 11 percent in 2024 compared to 2023, highlighting a sustained global demand for authentic travel experiences.

“Zimbabwe is riding this wave of growth by leveraging its unique blend of natural beauty, wildlife, heritage and cultural richness.”

In 2024, the tourism sector contributed 15 percent to the country’s GDP growth, with increased arrivals and diversified offerings playing a key role.

The Government has launched various initiatives, such as rural tourism, eco-tourism and community-based tourism to ensure local communities are not left behind.

“The creativity and innovation displayed by participants this year signal Zimbabwe’s readiness to continue competing on the global tourism stage.”

Minister Rwodzi echoed the President’s sentiments and highlighted tourism’s role as a job creator and unifier.
“Every booking made here supports farmers, guides, artists, drivers, hoteliers, conservationists and families across our provinces,” said Minister Rwodzi.

“Every tourist we welcome is a vote of confidence in Zimbabwe’s future. We will seize the momentum of this Expo to continue building a tourism sector that drives inclusive growth, sustainable development and prosperity for all Zimbabweans.”

As Zimbabwe continues to position itself as a must-visit destination, the Government has reiterated its commitment to building infrastructure, easing visa regulations and promoting regional connectivity to make travel more seamless for international and domestic visitors alike.