UN Tourism Highlights Lucrative Investment Opportunities In Zambia

The UN Tourism guide, “Tourism Doing Business—Investing in Zambia,” highlights key sectors for investment, showcasing Zambia’s economic potential and growth opportunities.

The UN Tourism organization has introduced a comprehensive guide titled “Tourism Doing Business—Investing in Zambia,” focusing on sustainable tourism development in the country. This guide highlights essential sectors for investment, with the objective of fostering economic growth throughout Zambia.

Zurab Pololikashvili, Secretary General of UN Tourism, stated, “This publication will lead to greater prosperity, job creation, community empowerment, and SME expansion in Zambia. It offers a comprehensive overview of Zambia’s economic, political, and social landscape, highlighting the vast opportunities within Zambia’s tourism industry.” 

Rodney Simbuka, Minister of Tourism of Zambia, said: “Investment in tourism is pivotal not only for sustainable development, economic growth, job creation but also the preservation of our rich cultural heritage and the conservation of our natural resources creating opportunities for the local communities.”

Stability and Growth in Zambia

The International Monetary Fund (IMF) reports that Zambia’s economic prospects are encouraging, with expected growth rates of 4.3% in 2023, 4.7% in 2024, and 4.8% in 2025. Over the past decade, Zambia has maintained a stable growth rate of 3.2%, surpassing the Sub-Saharan Africa average of 3.0%, highlighting its economic stability.

Reasons to Invest in Zambia

The guide “Tourism Doing Business—Investing in Zambia” identifies several compelling reasons for international investors to consider Zambia:

• Rich Biodiversity and Natural Resources: With 30% of its land (22.4 million hectares) designated for 20 national parks and green spaces, Zambia’s natural beauty is a significant draw for investors.
• Strategic Location and Cultural Diversity: Bordered by eight countries and boasting over 70 ethnolinguistic groups, Zambia’s geographic and cultural diversity are advantageous for investment.
• Business-Friendly Environment: Zambia ranks as the 7th Best Country to do Business among 54 African nations and 1st for Ease of Obtaining Credit in Africa, underscored by 60 years of peace and stability.
• Attractive Investment Incentives: The country has 16 investment promotion and protection agreements in place, offering appealing incentives for investors.

Investing in Tourism

Zambia presents numerous investment opportunities, particularly in the tourism sector, startups, and Foreign Direct Investment (FDI). The country has attracted an average of USD 969.7 million in FDI receipts annually over the past decade. Factors such as economic resilience, focus on tourism education, tax incentives, and streamlined business setup processes make Zambia an appealing destination for investors.

The services sector significantly contributes to Zambia’s economy, accounting for nearly 58% of GDP and employing 33% of the workforce. By creating an investor-friendly environment, Zambia facilitates informed decision-making, enabling stakeholders to leverage the country’s strengths and actively support sustainable development initiatives.