World Bank Report Indicated Tanzania Tourism Revenues Could Reach USD 16 Million By 2025

In its 6th Tanzania Economic Update entitled ‘ Unlocking the Potential of the Tourism Industry for Tanzanians,’ the World Bank indicated that the tourism revenues for Tanzania could grow from USD 4.48 billion annually in 2013 to USD 16 billion annually by 2025 with the equitable and even distribution of industry benefits.

According the World Bank Lead Economist, Jacques Morisset, the development of the country’s tourism sector is a priority for the National Business Council and as a part of the development agenda under the Tanzanian President Jakaya Kikwete.

The Country Director for Tanzania, Burundi, and Uganda Philippe Dongier explained that the growth of the tourism sector could have a significant effect on the economy as the sector is responsible for employing nearly 500,000 and is the primary source of foreign exchange with nearly 20% of the total exports and nearly 3.4% of the total GDP.

“There is no doubt Tanzania is in a good place with tourism and yet could do considerably better,” he said, “There is potential for further growth.”

Tourism is already a major contributor to Tanzania’s economy, but the latest update includes several strategic directions to help further grow the sector and the economy including taking steps to diversify tourism activities and the additional integration of local communities and small operators in the country’s tourism activities through benefit-sharing processes.