Namibia hosts Africa hospitality investment forum

WINDHOEK: Namibia should move towards transformational tourism by aligning investment strategies towards addressing challenges that threaten to stifle growth and sustainability in the sector, Vice President Netumbo Nandi-Ndaitwah has said. Nandi-Ndaitwah during the first edition of the Africa Hospitality Investment Forum in Southern Africa held in Windhoek on Wednesday, added that tourism is one of the sectors considered as Namibia's economical bedrocks and is the second largest employer in the country. Highlighting the previous accomplishments in the tourism sector, Nandi-Ndaitwah stated that the national tourism occupancy rate reached 60.3 per cent in May 2024, marking the highest room occupancy rate this year and surpassing the pre-pandemic peak of May 2019. 'The impact of the tourism sector cannot be overemphasised. It has the potential to create business opportunities particularly for small businesses, generate employment, reduce poverty and directly sustain the livelihood of thousands of our people,' she said. Furthermore, statistics indicate that in 2022, the hospitality and tourism sector contributed approximately 7 per cent of nominal Gross Domestic Product (GDP), which amounts to N.dollars 14.3 billion. 'This remarkable turnaround is a testament to the collective commitment, efforts and collaboration between the government and the private sector to sustain an economically flourishing tourism sector,' Nandi-Ndaitwah said. The forum is aimed at providing the hospitality industry with the right level of incentive through sustainable investments in infrastructure, innovation and technology. Source: The Namibia Press Agency