By Kingsley Jassi:
There is a lot of interest from investors outside the country to invest in the tourism sector but the government needs to do its part to unlock investment opportunities.
This is according to one of the private sector players, Managing Director of Amaryllis Hotel Ramy Waheed, who is also Africa Tourism Board Chief Executive Officer.
He was speaking yesterday at an event marking the commemoration of World Tourism Day, which falls on September 27.
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Waheed said through contacts with potential investors from other countries, he saw high potential that needed some ground clearing.
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“I travel at least once every month, going to different countries, for Africa Tourism Board engagements. I talk to investors in Russia, the United Kingdom and many other countries; they are interested in investing in Malawi but they are waiting for right signs in the economy. We are working together with the government to address the current challenges,” Waheed said.
The industry rues the current electricity shortages, fuel and water supply issues, unfavourable foreign exchange rate and regulations and poor infrastructure in some key attraction sites as limitations to investors and the growth of the sector.
Malawi Tourism Council Board Chairperson Justin Dzinkambani cited forex challenges as one of the key constraints that affect tourism and hospitality businesses.
“If you look at most of what the sector players require, the materials used, they [materials] are mostly imported and, with the current forex situation, it becomes a challenge,” Dzinkambani said.
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Industrialisation, Business, Trade and Tourism Minister Symon Itaye said much as there were challenges in the economy as a whole, the tourism sector was performing well and some infrastructure projects going on would help in boosting sector operations once finished.
A 6.7-kilometre tourism parade from Crossroads Hotel to BICC in Lilongwe marked the climax of the commemoration of tourism month.
The month of September is designated as World Tourism Month, culminating in World Tourism Day on September 27.
This year’s commemoration comes on the backdrop of strong sector performance, valued at K1.6 trillion, which is 5.9 percent contribution to gross domestic product and supporting 726, 700 jobs in 2025.
