(3 minutes read)
· Tourism Ethiopia has announced a “National Tourism Investment Profile”, an outline listing fifty prospective investment sites in Ethiopia
· The profile is aimed at boosting Ethiopia’s tourism sector in the upcoming decade
· Sileshi Girma, Director of Tourism Ethiopia, said 30 investment alternatives have been identified in the 50 places, to be made available for both domestic and foreign investors
Tourism Ethiopia has announced a “National Tourism Investment Profile”, an outline listing fifty prospective investment sites in Ethiopia. The profile is aimed at boosting Ethiopia’s tourism sector in the upcoming decade.
Sileshi Girma, Director of Tourism Ethiopia, said 30 investment alternatives have been identified in the 50 places, to be made available for both domestic and foreign investors. He also pointed out Tourism Ethiopia is working with private institutions as intermediaries to attract foreign investors.
Seven places have been identified, to which five years of “tax-free and special tourism investment incentives” have been attached. Bale Mountains, Semen Mountains, Nech Sar parks are where the seven places are located.
Despite an improvement in the involvement of the private sector in tourism and hospitality, there are still challenges in terms of access to loans from banks for investment in tourism. He also mentioned the distance of most major tourist destinations from the capital Addis Ababa as an additional hurdle. The government’s incentive is aimed to address these challenges. The tourism industry is specifically important in creating employment and generating foreign currency.
Tourism Ethiopia has signed an agreement with Oz Hospitality and Business Group with the aim of supporting the tourism sector. This agreement will help provide relevant and accurate information about Ethiopia’s tourism industry to international organizations.
