Foreign Investment in the African Tourism Market: Pros and Cons 

Increasingly, Africa is at the forefront in promoting the tourism industry as a means of improving the continent’s economic development and reputation, not only among Africans but also among foreigners too. Africa has attracted and continues to lure foreign investors to its lucrative tourism sector. A foreign investor can either be an individual or a corporate group such as Accor Hotels, who are investing in tourism enterprises worldwide, including in Africa. While efforts to position Africa as a viable attractive investment destination for global investors continue, we cannot overlook the fact that this can have both positive and negative impacts.

As the influx of tourists surge in the continent, there is greater need for world-class accommodation facilities, restaurants and other related amenities, which call for more investments. What this means is that the sector will employ more locals from the construction stage to running the businesses. The high demand for skilled labor will in return lead to further investments in hospitality institutions, thus increasing the three R’s level of the nationals and the Africans at large.

Read original article at