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    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

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    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

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Tanzania’s tourism industry is booming

bycitibusinessnews
January 9, 2017
in Africa, East Africa
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The number of tourists visiting Tanzania rose 10.4 percent in the 10 months to October compared with the same period last year, the finance and planning ministry said on Friday, despite higher prices for some attractions.

Tourism is the main source of foreign currency in Tanzania, best known for its beaches, safaris and Mount Kilimanjaro.

As part of an initiative to boost revenue, the government lifted an 18-percent VAT exemption in July on some tourist attractions, including wildlife park entry.

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Tour operators had opposed the tax, saying it would stifle the tourism sector which employs more than 500,000 people.

However, arrivals increased to 1,020,816 in the most recent period, according to the ministry of finance and planning.

Tanzania made $2.23 billion in 2015 from 1.1 million tourist arrivals, a slight decrease from 1.14 million arrivals in 2014.

“Claims that tourists have run away from Tanzania because of the introduction of value added tax (VAT) on some tourism services are without merit,” the ministry said in a report.

Last month, Tanzanian president John Magufuli announced plans to revamp the cash-strapped national carrier in a bid to boost the tourism and transport sectors, aiming to double annual foreign visitor arrivals.

–

Credit: CNBC Africa

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