Did you know Zimbabwe’s tourism sector contributes almost 5.7% to the country’s GDP?

Zimbabwe has a rich culture, beautiful landscapes, and a great location for business. The country is known as Southern Africa’s “Hidden Gem”, offering many investment opportunities. The crown jewels, Victoria Falls, and national parks are among the attractive places that draw tourists. Hence, Zimbabwe’s tourism sector is growing. 

In the first half of 2023, the tourism sector experienced a 27% increase in international arrivals. The country also had a 24% increase in tourism receipts at the same time. In this article, we will talk about the investment opportunities in Zimbabwe’s Tourism and Hospitality Sector and its vast potential.

Zimbabwe’s tourism industry contributes to boosting its GDP. The sector offers jobs and livelihoods for people. Zimbabwe is famous for its natural wonders. Victoria Falls (a UNESCO site), the Great Zimbabwe Ruins, and Hwange and Mana Pools Parks are noteworthy places in Zimbabwe.

The country also has vast wildlife reserves. The tourism sector has shown consistent growth in recent years. Zimbabwe’s adventure, culture, and wildlife draw both regional and international travellers.

The government has made tourism a priority for recovery and growth. They are promoting private investments by offering supportive policies. 

Zimbabwe is marketing itself as a safe place to visit, which is a great move. Tourists find this country interesting because of its unique culture. Hence, investors are interested in investing in this country. Despite economic challenges, the tourism sector is growing.

Zimbabwe’s tourism sector is promising. But investors should note challenges, such as:

1.Infrastructure Gaps in Rural Areas: Zimbabwe has some popular tourist spots. However, many rural areas need more infrastructure. Poor roads and weak transport systems limit access to remote attractions. This makes it hard for tourists to reach key locations.

The country must improve connectivity to these areas. It is key to expanding the country’s tourism potential.

2.Zimbabwe’s Political and Economic Landscape. The country faces inflation and currency fluctuations. There are also frequent policy changes. These challenges make it uncertain for investors to invest in business here. 

Investors need to study and understand the market to commit to long-term projects.

3.Economic Volatility: This can hurt the spending power of local consumers and tourists. This makes business operations more complicated.

The government and authority of Zimbabwe are working to simplify the process. 

4.Bureaucratic Hurdles in Regulatory Compliance: Starting and running tourism businesses in Zimbabwe can be slowed by bureaucratic processes. Regulatory compliance is a long process as well. Many businesses need more time to get permits and licenses, which can be exhausting for both parties. 

5.Inconsistent Enforcement of Regulations: This is another challenge that needs to be taken seriously. Weak coordination among government departments can make the investors’ business difficult. Investors will need help understanding and navigating the legal landscape and following local rules.

Zimbabwe is a top destination for tourism investors for many reasons. 

1.Natural Beauty: It has exceptional offerings and strategic advantages. The country has stunning natural attractions. Victoria Falls, a World Wonder, is one. Its national parks are full of wildlife. These wonders draw millions of tourists each year. So, there is a steady market for tourism businesses.

Besides its scenic beauty, Zimbabwe is rich in cultural heritage. The Shona and Ndebele communities have rich traditions, arts, and crafts. They offer a vibrant culture for visitors. This creates opportunities to invest in cultural tourism and heritage preservation.

2.Easy Access to Neighboring Countries: Zimbabwe’s central location in Southern Africa makes it a great tourist spot. The country has easy access to its neighboring countries, which is a great market advantage.

3.Supportive Government: The government has introduced incentives to attract investors. They include tax holidays, duty exemptions, and SEZs for the tourism industry. These measures aim to lower business costs and create a better environment. 

As global interest in sustainable tourism grows, Zimbabwe’s tourism sector is also improving. The government’s commitment to conservation and eco-friendly initiatives aligns with travelers’ preferences.

Zimbabwe’s tourism and hospitality sector investments increased from $142 million in 2021 to $313 million in 2022.

The sector has many investment opportunities for investors. This applies to both local and international investors. These include accommodations, tourism infrastructure, attractions, eco-tourism, and event tourism.

1.Accommodations: Zimbabwe offers great places to stay. It is a prime spot to invest in tourism. From a luxury eco-lodge by Victoria Falls to a budget hotel in a busy city, there’s always something for everyone. For a high-end experience, Victoria Falls offers resorts that focus on eco-friendliness. They cater to international tourists seeking privacy and comfort in a stunning setting.

On the other hand, budget travelers want affordable and comfortable places to stay. It lets investors build budget and mid-range hotels in cities and transit hubs. Zimbabwe’s accommodation market has a high demand for luxury and budget options. It is ideal for investors looking to capitalize on the growing tourism industry.

2.Infrastructure: Improving the tourism infrastructure would attract more travellers to Zimbabwe. Investors can invest in improved transport and connectivity. Better transport to remote areas could help tourists find hidden gems. One is Gonarezhou National Park. It could help them make the most of their visit. 

Another area that offers investment potential is tourism services. Reliable tour operators, local guides, and easy online booking can simplify the travel experience. They can also make the experience more enjoyable. These improvements will make travel smoother. They can help position Zimbabwe as a top travel destination.

Zimbabwe’s varied landscapes suit adventure tourism, especially near the famous Victoria Falls. Thrill-seekers can bungee jump, white-water raft, and zip-line. They will do so while facing one of the world’s most breathtaking natural wonders. These activities give tourists an unforgettable experience. They also attract adrenaline enthusiasts from around the world. 

Zimbabwe’s rich cultural and historical heritage also attracts investors and tourists. It allows adventurers to explore the Great Zimbabwe Ruins, the Matobo Hills, and tribal traditions. The innovative traditions attract tourists and visitors throughout the year. The country, along with its great places, helps preserve the country’s unique history. Investing in these areas can boost tourism. It will also preserve Zimbabwe’s cultural legacy for future generations.

3.Eco-Tourism and Conservation: Eco-tourism and conservation projects are gaining popularity. They create exciting investment opportunities in Zimbabwe. More travellers want sustainable options. So, demand is rising for eco-friendly, energy-efficient lodges. These lodges cater to those who wish to enjoy nature. They reduce the impact on the environment, which attracts eco-conscious travellers. These sustainable lodges attract responsible tourists. They also help preserve Zimbabwe’s environment.

4.Investing in Wildlife Conservation Projects: This helps to engage with nature. These include anti-poaching initiatives and wildlife sanctuaries. These projects protect endangered species and attract eco-conscious travellers. Hence, Zimbabwe is ideal for those seeking adventure and eco-friendliness.

5.Events and Conference Tourism: Zimbabwe’s event and conference tourism has great growth potential. Cities like Harare and Bulawayo need world-class conference venues. They will attract international business events. Investing in top-tier facilities and promoting Zimbabwe could boost event tourism. It can become a prime destination for global conferences. 

Hosting international events attracts business travellers and boosts Zimbabwe’s global profile. It shows the country’s potential to become a key hub for commerce and tourism in Southern Africa. This will help grow the country’s economy and tourism sector.

Investing in Zimbabwe’s tourism and hospitality sector offers many great opportunities for investors. This will boost the economy and help grow the GDP. It will also mark the country’s territory as a high-potential industry. 

Despite challenges, strategic investments and partnerships can help improve the tourism sector. With proper support and strategy, Zimbabwe can overcome obstacles and promote sustainable development. So what are you waiting for? This is your time to invest in Zimbabwe’s tourism and hospitality sector and start your business!