UN Tourism has launched a guide on sustainable tourism development in Zambia that identifies key sectors for investment, including perks like its location, ease of doing business and investment incentives, among others. 

In the report titled Tourism Doing Business—Investing in Zambia, UN Tourism says the guide aims to boost economic growth nationwide in terms of greater prosperity, job creation, community empowerment and SME expansion in Zambia.

Zurab Pololikashvili

“This publication will lead to greater prosperity, job creation, community empowerment, and SME expansion in Zambia. It offers a comprehensive overview of Zambia’s economic, political, and social landscape, highlighting the vast opportunities within Zambia’s tourism industry,” says Zurab Pololikashvili, Secretary General of UN Tourism. 

Rodney Simbuka

“Investment in tourism is pivotal not only for sustainable development, economic growth, job creation but also the preservation of our rich cultural heritage and the conservation of our natural resources creating opportunities for the local communities,” says Rodney Simbuka, Minister of Tourism of Zambia.

According to the International Monetary Fund (IMF), Zambia’s economic outlook is promising, with projected growth rates of 4.3 pc in 2023, 4.7 pc in 2024, and 4.8 pc in 2025. 

The statement adds that Zambia has maintained a steady growth rate of 3.2 pc over the past decade, demonstrating economic stability that exceeds the Sub-Saharan Africa average of 3 pc. 

The report outlines the opportunities for international investors, emphasising that Zambia’s biodiversity and natural resources make it an attractive destination for investors, with 30 pc of its land at 22.4 million hectares dedicated to 20 national parks and green spaces. 

It says that Zambia shares borders with eight other countries, the location of this landlocked nation, along with its cultural diversity, with more than 70 ethnolinguistic groups, are a few of its many merits. 

It adds that Zambia, that has celebrated 60 years of peace and stability, has been ranked the 7th best country to do business out of 54 African nations and the 1st for ease of obtaining credit in Africa.

Zambia offers attractive investment incentives, with 16 investment promotion and protection agreements currently in place. Avenues for investment in Zambia, such as the tourism sector, startups and Foreign Direct Investment (FDI) are attracting attention. 

The report adds that the nation has also made its mark on global investment arena with an average of USD 969.7 million in FDI receipts over the past decade. 

Zambia’s economic resilience, emphasis on tourism education, tax incentives, and efficient business setup processes make it a noteworthy prospect for investors.  

The services sector contributes to almost 58 pc to the Zambian economy and employs 33 pc of the country’s workforce. Fostering an investor-friendly climate facilitates well-informed decision-making, enabling stakeholders to maximize Zambia’s strengths and actively contribute to sustainable development initiatives.