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Nqobile Bhebhe, nqobile.bhebhe@chronicle.co.zw
THE Zimbabwe Tourism Fund (ZTF), a separate entity geared at collecting the sector’s revenue, is under consideration for operationalisation as authorities seek to expedite the tourism sector’s recovery by offering affordable funding to industry players.
Previously administered by the Zimbabwe Tourism Authority (ZTA) as a revolving fund financed by levies from the sector, the authorities now aim to establish the ZTF as an independent entity.
Tourism is considered a low-hanging fruit for the country in terms of foreign currency generation and employment and is part of key locomotive sectors that will be critical in achieving sustainable economic growth as enunciated in the National Development Strategy 1.
As such, the Second Republic has been pushing for the elevation of the tourism and hospitality sector through the development of a national tourism policy to cement and enhance the sector’s recovery maximising economic returns at the same time.
President Mnangagwa has doubled up the efforts to promote tourism as he recently launched the National Tourism Recovery and Growth Strategy.
In his recent budget statement, Finance, Economic Development, and Investment Promotion Minister Professor Mthuli Ncube said the Tourism Act provides for the establishment of the Zimbabwe Tourism Fund, as a separate entity responsible for the administration of the tourism levy.
“In order to pool financial resources for tourism development, Government will operationalise the Zimbabwe Tourism Fund, through the development of a Zimbabwe Tourism Fund Automated System as part of its efforts to strengthen revenue collection from tourism,” noted Prof Ncube.
He said that the 2025 Budget will support the Ministry of Tourism and Hospitality to undertake programmes that advance the growth of the tourism sector, and establish the country as a prime tourist destination by adhering to international best practices.
Outlining the proposed budget, Prof Ncube said the domestic accommodation and food services sector is expected to grow by 12 percent in 2024, mainly due to strong domestic and global demand.
He said enhanced air connectivity and the continued recovery of major tourism source markets and the successful implementation of strategic initiatives, such as domestic tourism campaigns (DTC), as well as the deployment of tourism attaches in key source markets will sustain this strong performance.
The minister said Zimbabwe’s tourism sector has recovered post Covid-19, to an estimated 1,7 million tourist’s arrivals in 2024. Tourism receipts grew by 24 percent from January to September 2024, mainly driven by increased international arrivals, domestic spending, and enhanced marketing efforts.
Government policies such as suspension of duty on approved tourism equipment for refurbishment and suspension of duty on vehicles for tour and safari operators have aided growth of the industry visa facilitation, investments in tourism infrastructure, the hosting of both domestic and international events, as well as tourism product diversification.
To support the operations of the Ministry of Tourism and Hospitality Industry, Prof Ncube said an amount of ZWG294.6 million has been set aside to enable the ministry to advance the growth of the sector, as well as establish the country as a tourist destination of choice.
On the outlook, the industry is projected to grow by 4,3 percent in 2025, benefiting from enhanced visa facilitation, investments in tourism infrastructure, the hosting of both domestic and international events, as well as tourism product diversification.
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