Ethiopia Generated $2.5 Billion from Tourism in 2014/2015 Fiscal Year

Photo Credit: Tourist Maker

Ethiopia aims to triple its number of foreign visitors to more than 2.5 million by 2020, making tourism a pillar of one of Africa’s fastest-growing economies.

Buoyed by huge spending on infrastructure and an expansion of its services and agricultural sectors, Addis Ababa expects annual economic growth of around 11 percent for the next five years.

Ethiopia boasts magnificent terrain and has seen a steady rise in the number of tourists coming in by 10 percent every year for the past decade. Culture and Tourism Minister, Amin Abdulkadir, said that more than 750,000 tourists came during fiscal year 2014/2015, generating $2.9 billion for the economy.

“There is a lot of demand in terms of bookings and investment plans. Our target is to receive more than 2.5 million in five years’ time,” he told Reuters in an interview. “This sector will generate foreign direct investment and foreign currency and create job opportunities, as well as contribute to image-building.”

“We are a peaceful and stable country. Plus, we have the right policies and strategies,” said Amin. “It will not be long before we reach the levels of our neighbours.”

 

Source: REUTERS

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