Zimbabwe looks to expand development at Victoria Falls

[From a longer original article - see link at end for full text]

Victoria Falls and tourism recovery

As part of his hectic programme last week, President Mnangagwa was in Victoria Falls where he launched the National Tourism Recovery and Growth Strategy, which was approved by Cabinet recently.

The strategy will encourage investment in the tourism sector, making Zimbabwe a favourite destination among tourists, thus achieving the envisaged US$5 billion tourism economy by 2025.

The focus on Victoria Falls and the activities carried out by the President there clearly indicate the new approach meant to rebrand the tourism resort through the attraction of investors.

This will be greatly supported by the tourism recovery strategy, that will not only work to revive Victoria Falls following the outbreak of Covid-19, but help the entire sector.

Victoria Falls has been designated as a financial hub special economic zone, where investors in the financial sector are expected to sat base.

This will be supported by the Victoria Falls Stock Exchange whose operating modalities were gazetted recently through Statutory Instrument 196 of 2020.

Another milestone with regards to Victoria Falls is the adoption by Cabinet of a report on the operations of Mosi-Oa-Tunya Development Company, an investment vehicle for Government in the development of tourism facilities in the resort town.

The company is already working with a private sector concern to conduct feasibility studies for the proposed Victoria Falls Integrated Tourism Park in Masuwe Estate.

This project will result in the building of hotels, shopping malls, a medical facility, a convention centre and an upmarket golf course.

This clearly shows that Victoria Falls is no longer about tourism alone, but is set to play an important role in the development trajectory of the country.

The transformation taking place in the town is massive, and will have ripple, positive effects on the economy.

The financial hub special economic zone status for the resort town will result in investors bringing in capital and new technologies into the country that will enhance industrialisation and modernisation.

Apart from that, President Mnangagwa's promotion of tourism is out of the realisation that the sector is a low hanging fruit that can contribute to a quick economic turnaround.

While in Victoria Falls, President Mnangagwa officially re-opened the Victoria Falls Rainforest that had been closed due to Covid-19, with the move signifying that the country is ready to welcome tourists once more.

But all this cannot be easily achieved without players in the tourism industry being innovative and adaptive to new and efficient ways of doing business.

The tourism industry is crying out for new products and services that can compete with any other in the world to ensure that tourists always put Zimbabwe on their itinerary.

Source: Development Trajectory Points to Bright Future (13/08/20)