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%.