Ivory Coast - Abid­jan

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

Western Africa. In­ter­na­tional and re­gional in­vestors are in­ter­ested in the Cote d’Ivoire due to high eco­nomic per­for­mance. Af­ter a few years of so­cial un­rest and un­cer­tainty, the coun­try is ex­pe­ri­enc­ing a fast re­cov­ery, sup­ported by the oil, fi­nan­cial and tourism in­dus­tries. The re­turn of the African De­vel­op­ment Bank head­quar­ters has brought back in­vestor con­fi­dence and an in­ter­est from in­ter­na­tional com­pa­nies. The econ­omy is boosted by busi­ness tourism and con­fer­ences that are hosted in Abid­jan. Cote d'Ivoire is a prime des­ti­na­tion for for­eign di­rect in­vest­ment and had a strong GDP growth of 8.4% in 2016.

The Ivo­rian gov­ern­ment is pro­mot­ing re­gional de­vel­op­ment as well as tourism to the in­ter­na­tional mar­kets build­ing a re­silient econ­omy. There is po­ten­tial in the coun­try which ben­e­fits from di­ver­si­fied tourism, cor­po­rate trav­ellers come in num­bers for oil and fi­nance and Abid­jan has qual­ity MICE in­fra­struc­tures such as the Abid­jan Con­fer­ence Cen­tre.

Oc­cu­pancy rates in­creased in 2016 to 76.1% thanks to busi­ness tourists vis­it­ing the coun­try. A sig­nif­i­cant amount of new sup­ply and re­fur­bish­ments of ex­ist­ing meet­ing rooms and con­fer­ence cen­tres are ex­pected to hap­pen. RevPAR and ho­tel val­ues de­creased by 0.8% in 2016. In­ter­na­tion­ally-branded prop­er­ties are now see­ing op­por­tu­ni­ties in Abid­jan and are now plan­ning on open­ing new ho­tels and African brands such as Man­galis Ho­tel are ex­pected to open in Abid­jan in the near fu­ture.

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