Ghana: All Set for Maiden Tourism Investment Summit

4 December 2023

In a bid to bolster Ghana's tourism industry and attract significant investment, the maiden Tourism Investment Summit is set to take place tomorrow.

The summit, organised by the Ministry of Tourism, Arts and Culture, is supported under the Ghana Tourism Development Project in collaboration with the Ghana Tourism Development Company and other agencies, aims to bring together key stakeholders in the tourism value chain.

The primary objective of the summit include showcasing Ghana's rich and diverse tourism investment opportunities, attracting attention to the country, and positioning it as an attractive destination for Foreign Direct Investments (FDI) in tourism.

The event also seeks to foster global integration of Ghana's tourism trade and secure investments in various priority and emerging tourism sectors for mutual benefits.

Participants at the summit will represent a wide array of sectors, including Tourism Value Chain Operators, Regulatory and Licensing Institutions, Financial Advisory Sector, Real Estate, Banking, Insurance, Transport, Aviation, Tourism and Trade Associations, Public Entities, and SOEs.

Additionally, the summit will see the involvement of the Diplomatic Corps, Legal Practitioners, Development Partners, NGOs, and international infrastructure and investment firms from South Africa, United Arab Emirates, United States of America, United Kingdom, Saudi Arabia, and Turkey.

Ghana, often referred to as the "Centre of the World," boasts rich natural, historical, and cultural resources that could serve as attractive tourist destinations.

However, the country's tourism industry faces challenges such as a lack of investments, inadequate coordination among industry players, infrastructure maintenance issues, high hotel accommodation costs, insufficient domestic airlines, and a shortage of training in tourist-related services.

Despite these challenges, the Ministry of Tourism, Arts and Culture is actively addressing them through initiatives like the Ghana Tourism Development Project (GTDP), funded by the World Bank.

The GTDP aims to improve tourism performance in targeted destinations, attract private sector participation and investment, and support the development of public sites and private attractions.

While the GTDP has made significant strides in improving selected sites and attractions, there remains a need for additional investments in various tourism-related enterprises.

The Ghana Tourism Development Company has identified commercially viable projects, including the Center of the World Project, Air Charters and Chopper Services, Big Tree Tourist Site, Virtual Tourism Platforms, and more, that require promotion for state, corporate, institutional, and individual investments.

The summit also addresses infrastructural deficits in the industry, emphasising the importance of good roads, power supply, railways, budget hotels, domestic flight stations, water crafts, picnic areas, theme parks, theatres, training schools, and conferencing facilities to enhance destination attractiveness.

As Ghana strives to become a top tourism destination, the summit aims to create jobs, generate income, reduce poverty, and position the country as an attractive hub for global tourism investments.

The event will serve as a platform to highlight potential investment opportunities and encourage both local and foreign investors to contribute to the growth of Ghana's tourism, arts, and hospitality sector.

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