Mozam­bique - Ma­puto

Tourism Tattler - - BUSINESS & FINANCE - For de­tailed anal­y­sis visit: http://hvi.hvs.com/mar­ket/africa/Mozam­bique_-_Ma­puto

Mozam­bique’s GDP dropped from 6.6% in 2015 to 3.3% in 2016, as per World Bank and is fore­cast to reach 4.8% in 2017. A po­lit­i­cal con­flict, hid­den debts, low com­mod­ity prices and draught con­trib­uted to a cur­rent eco­nomic slow­down in 2016. De­spite this a mas­sive off­shore nat­u­ral-gas project and a pick-up in coal and elec­tric­ity ex­ports are ex­pected to help a re­cov­ery in growth to 6.6% by 2018. The hos­pi­tal­ity in­dus­try is ex­pected to sig­nif­i­cantly pick up along the oil and gas re­cov­ery in 2019/20. Ma­puto is one of the high­est non­petroleum growth per­form­ers in Sub-Sa­ha­ran Africa. De­spite the on­go­ing debt cri­sis, a rel­a­tively sta­ble growth is fore­cast at an av­er­age of 4.8% be­tween 2016 and 2021. In ad­di­tion, gov­ern­ment has ap­proved a leg­is­la­tion to re­form pub­lic en­ter­prises, mean­ing more pri­vati­sa­tions and the clo­sure of pub­lic com­pa­nies, which is con­sid­ered a pro­gres­sive move for the econ­omy, and it will cre­ate great op­por­tu­ni­ties for busi­nesses to ex­pand. In his open­ing speech at the In­ter­na­tional Con­fer­ence on the De­vel­op­ment of Tourism in Bei­jing in May 2016 Pres­i­dent Filipe Nyusi said, that Mozam­bique gained 193 mil­lion US dol­lars in rev­enue from tourism in 2015 when 1.552 mil­lion tourists vis­ited the coun­try. The pres­i­dent also added in his speech that it is the gov­ern­ment's goal, for­mu­lated in its Strate­gic Plan for the De­vel­op­ment of Tourism, to im­prove Moza­mique's com­pet­i­tive­ness and de­velop ac­cess and in­fra­struc­tures by 2025. Tourism shall be a “di­rect in­vi­ta­tion to all in­vestors and tourists”. A ma­jor step to­wards this goal has been made when the gov­ern­ment re­cently con­firmed that cit­i­zens of coun­tries who were pre­vi­ously re­quired to ob­tain a visa be­fore­hand, can now do so upon ar­rival at 44 bor­der posts, mak­ing an en­try into the coun­try has­sle-free and easy. Catch­ing up with the trend in Ma­puto: City Lodge Ma­puto is look­ing at com­plet­ing 148 rooms by the first quar­ter of 2018 and Tsogo Sun Ho­tel StayEasy Ma­puto is plan­ning to open with 125 rooms in April 2018. Con­clud­ing that the trend is real: Ma­puto's ho­tels saw a mas­sive jump in oc­cu­pancy rates from 29.6% to 58.2% in 2015 to 2016. The av­er­age rate dras­ti­cally in­creased by 24 US dol­lars and rooms sold dou­bled, leav­ing 2016 with a RevPAR and ho­tel room value growth of 133.5%.

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