Although the tourism sector currently makes up 2% of GDP and attracted nearly 982,000 tourists in 2012, the government hopes to raise the sector’s GDP contribution to 5% by 2015 and boost visitor numbers to 2.5m. The 2009 Complementary Finance Law introduced a number of fiscal incentives aimed at increasing sector activity, such as cheaper access to government land and better interest rates on...
Tourism
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As the single most populous nation in Africa, Nigeria recently overtook South Africa as the largest economy on the continent. Natural resources, oil and gas in particular, comprise the country’s single largest revenue-earner but the 170m person economy also has seen significant activity in recent years into the industrial, financial, telecoms and – as of 2013 – power sectors.
Considerable oil and gas revenues have provided the Algerian government with sufficient funds to embark on generous public spending programmes in nearly all sectors, leading to improvements in many of the country’s headline indicators.
It has been a difficult few years for Egypt’s economically vital tourism sector, in the wake of the 2011 revolution and with civil unrest continuing to occur in the summer of 2013. However, the country still managed to attract millions of foreign visitors, even discounting the number of arrivals who were not tourists per se. However, 2013 may prove tough. The disturbances earlier in the year, and...
The wealth of the Nile River and its fertile banks and delta, together with Egypt’s location at the confluence of Africa, Asia and Europe, have made the country a valuable prize for centuries, as well as a centre of trade and ideas.
The government has prepared a 10-year development strategy to help guide sector growth, and a central part of this strategy is leveraging the private sector. To this end, the government is actively partnering with private operators to help promote tourism and is developing a reputation for managing public-private partnerships in the sector. Ras Al Khaimah continues to raise its profile as a...