adminKudzanai Gerede
ZIMBABWE’S external debt is currently hovering at around $7 billion and this has seen international lenders such as the International Monetary Fund (IMF) and World Bank reluctant to lend money to the country, a case that has serious implications on the implementation of the economic blueprint Zim-Asset due to lack of funding.
Treasury recently announced that revenue targets continue to be elusive amid the liquidity crunch currently bedevilling the economy and as at July this year the trade deficit was at $1,768 billion due to low industrial productivity forcing the finance ministry to further cut down its budget from its initial $4 billion.
Recently the Minister of Tourism and Hospitality, Engineer Walter Mzembi, mapped his $5 billion tourism economy vision by 2020, which is more than the current national budget which saw a wave of “doubting Thomases” emerging, but if given support, with its realistic frame, could even pay the debt the nation is currently tied on.
With agriculture and manufacturing sectors still struggling, the future of the country’s economy is set to be backed by an emerging tourism sector whose recently launched tourism policy seeks to complement the minister’s vision.
According to UNWTO, Zimbabwe is ranked 19th out of 134 on the natural attractiveness index, and for a country endowed with vast natural resources and a plethora of natural attractions, the policy seeks to engage in a robust promotion of the various traditional destinations and also create rapport with leading regional and international tourism source markets so as to tap from their spending.
“Yes we can, a $5 billion economy is possible. South Africa has done it. They currently sit on a $12 billion tourism economy compared to our current $1 billion,” said Eng Mzembi.
“The chief anchor of our product as a country is our peace and natural attractiveness and that is the biggest step towards luring tourists into the county and by 2020 we will be able to cancel the current national external debt as a sector,” he added.
China has managed to raise a powerful middle class in recent years able to afford travelling and this has seen the Asian superpower surpassing USA and Germany as the major global tourism spenders and considering our ties with China, the country can benefit from the influx of Chinese tourists which is currently very low.
China spent $128,8 billion in tourism in 2013 and commands an 11 percent market share in global tourism with USA and Germany tied at second with 7, 4 percent and economic forecasters have stated that Chinese tourism spending is projected to be at $240 billion by year 2020.
“If our all-weather friends, China, are projecting a $240 billion economy by 2020, and we have signed agreements with the Chinese in our recent diplomatic tour that will see over one percent of Chinese tourists coming into Zimbabwe, now do the Math; one percent of a projected 240 will give us just above $2 billion from Chinese tourists only,” said Eng Mzembi.
Zimbabwe Tourism Authority chief executive officer Mr Karikoga Kaseke recently bemoaned that the country was not doing much in China as the country was still ranked 13th in the region in terms of visiting Chinese tourists hence they were the world’s biggest tourism source market.
The tourism policy seeks to include the role of the country’s Diaspora which is estimated to be between three and four million in areas of investment into the tourism industry.
The Minister of Finance, Cde Patrick Chinamasa, recently said that there were about $400 million Diaspora transfers recorded and the vast of it was for domestic consumption at a family level. “We have approached our Diaspora and they have highlighted interest in investing in our sector and also help in dispelling the negative image the outside world has had of us, currently they have set aside above a billion dollars for a hotel to be constructed along the Zambezi River,” said Eng Mzembi.
“We also want to promote religious tourism as we have seen their influence in Nigeria as 60 percent of arrivals are religious-inspired visitors to TB Joshua’s church, so we can do the same with our popular prophets and other religious meetings like the recent Jehovah’s Witnesses’ conference which chocked hotel accommodation in Harare,” he added.
Recently Prophet Walter Magaya pulled about 350 000 congregants, including a considerable proportion of foreigners who had travelled for his birthday celebrations, and it just proves the power of religious tourism.
The minister also vowed to work with other line ministries so as to do away with the visa restrictions especially for emerging economic giants in the BRICS community which commands half of global tourists following success stories of countries without visa restrictions like Malaysia, Mauritius and Seychelles who enjoy tourist preference to their destinations as it cut extra costs and time hence their tourism sectors thriving in this model.
Online Reporter