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Angola: Country to Invest Over U.S. $300 Million in Hotels Until 2010

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Angola Press Agency (Luanda)

18 July 2008
Posted to the web 18 July 2008

Luanda

Angola will invest until 2010 more than USD 300 million (USD 01=75,2 kwanzas) in the construction of hotels, already underway in various cities of the country, announced Thursday in Luanda the Hotels and Tourism minister, Eduardo Chingunji.

Eduardo Chingunji, who gave the information during an assessment visit to the mentioned construction works in Luanda, said that by 2010 more than 2,500 rooms will be available, having into account the new hotels under construction and rehabilitation of existing ones.

"Angola is experiencing a good economic growth and more people want to invest in the country and with this rhythm of growth, there is a need to create major accommodation capacity, due to the inflow of businesspeople and tourists" he said.

According to the minister, the construction of 10,000 new rooms in future will contribute to a certain balance of prices in the national hotels market.

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More than 200,000 people, mainly tourists, visit Angola annually.

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