GhanaGHANA,
Enhancing Trade and Accruing Investment
LATEST REPORT
February 4th, 2002




 Ghana
A country with a vision.

Introduction - Perfect vision - Banking on the future - Opportunities in privatizations - Stock exchange continues to expand - Strong commitment to infrastructures development - Flying high - Made in Ghana - Mining and energy - Powering the economy - Cocoa industry - Competitive telecommunications - Benefits of the lottery - Tourism blooms


Tourism blooms

Tourism has grown from a negligible contributor to GDP in the early 1990s to become the country's third ranked foreign exchange earner. With West African receipts totaling over US$240 million from about 300,000 tourist arrivals, the sector in the West African Region grew by 12.5% in 1996 according to the World Tourism Organization . With tourism receipts growing by 24.4%, almost double that of the Region as a whole, Ghana is the fastest growing tourist destination in the West Africa.

The Asantehene and his courtiers.

Conservative estimates project tourist arrivals growing to 400,000 by the end of the decade, and to one million by the year 2010. Facilities in the industry will have to expand rapidly to cope with the projected growth. Although private tourism investment has grown substantially in recent years, there remains a great need for more investment in the industry. Deputy Tourism Minister, Mr. O. Amofa says: "Even though we have a large concentration of hotels in Accra, we still need to encourage the building of more in the Sheraton, five-star class."
Ghana has many outstanding tourist attractions such, as the only forest canopy walkway in Africa in the Kakum National Park. UNESCO has designated three of the oldest and most important castles in West Africa as World Heritage Sites. And, of course, Ghana has one of the largest man-made lakes in the world in the 8,500 sq. Km Volta Lake.
National theatre, Accra

The country's excellent showing in tourism development has come through a consistent, far-reaching and aggressive effort to position it as an ideal tourist destination. The country's rich culture and the warm hospitality of its people is renowned throughout West Africa and beyond. An emphasis on cultural heritage and conference tourism has now being widened to include leisure, sports, recreation, and most importantly, the new category of eco-tourism.

Under Ghana's 15-year master development plan now in place, tourism development zones were created to guide investment activities to areas with a high potential of growth. The plan was designed as an integrated system of tourism development zones, gateways, centers and stopovers all linked together by excursion routes.

Ancient forts are spread all over the coast.

Additional investment, especially for small to medium-sized investors, is worth considering. Opportunities exist in recreational and sports facilities (especially water sports), entertainment, touring and travel services, not only in Accra, but in the other nine regions of Ghana as well.


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© World INvestment NEws, 1999.
This is the electronic edition of the special country report on Ghana published in Forbes Magazine´s
October 6th 1999 Issue.
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