Botswana - Gabarone

Tourism Tattler - - BUSINESS & FINANCE -

Botswana is home to one of the most ex­clu­sive sa­fari des­ti­na­tions. The coun­try's econ­omy is grow­ing be­tween 5% and 6% a year. Gaborone con­tin­ues to put mea­sures in place to strengthen the econ­omy, much of the econ­omy is based on di­a­monds. Real GDP growth was down to 2.9% in 2016 fol­low­ing do­mes­tic pres­sures and the down­fall in di­a­monds de­mand lead­ing to a drop-in di­a­mond prices. How­ever, the econ­omy is im­prov­ing and has struc­tures in place to help build a strong sus­tain­able growth. GDP growth for 2017 is es­ti­mated at 4.2%, which is a pos­i­tive sign that the coun­try is re­cu­per­at­ing. Gaborone is among the top 10 de­vel­op­ing cities in Africa. Botswana has large ma­jor game re­serves and na­tional parks, which has cap­tured trav­ellers look­ing for sa­fari and wildlife ex­pe­ri­ences and gave a rep­u­ta­tion for ad­ven­ture tourism. The coun­try's tourism in­dus­try is flour­ish­ing and sig­nif­i­cantly con­trib­utes to the na­tional econ­omy. The Oka­vango Delta was listed as a UN­ESCO World Her­itage Site in 2014, plac­ing Botswana into a more prom­i­nent place in the world travel and tours space. The re-open­ing of Bel­mond Ea­gle Is­land lodge has also seen huge in­ter­est in tourists vis­it­ing for sa­fari. The gov­ern­ment has a fo­cus on the growth of tourism and on pro­mot­ing the des­ti­na­tion to cor­po­rate and leisure trav­el­ers.

Gaborone of­fers a good busi­ness en­vi­ron­ment and is a per­fect start­ing point for sa­faris and road trips through Sub-Sa­ha­ran Africa. How­ever, oc­cu­pancy rates in Gaborone for 2016 de­creased to 57.5% com­pared to 2015. Although the gov­ern­ment in­vested in tourism, it aims to keep it ex­clu­sive; there­fore, the rates are high, mak­ing re­gional trav­ellers and mid­dle class in­ter­na­tional tourists un­able to travel to the coun­try. RevPAR was down 8.6% lead­ing to a de­crease in value of -11.1%.

For de­tailed anal­y­sis visit http://hvi.hvs.com/mar­ket/africa/Botswana_-_Gaborone

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