04/05/2023
TOP SECTORS TO CONSIDER SETTING BUSINESSES IN (Part Three)
TRAVEL & TOURISM
Botswana is well known for its wildlife & wilderness with Okavango Delta and Chobe taking precedence in the sources-of-attraction hierarchy. The country is home to endangered species like the Wild Dog, Cheetah, Brown Hyena, Cape Vulture, Wattled Crane, Kori Bustard, and Pel’s Fishing Owl; one of the reasons why 38% of Botswana's total land is dedicated to nature reserves, parks, and wildlife management areas. Did you know that prior to COVID-19, Botswana's travel & tourism industry made up approximately 10% of the country's GDP? The promising industry, however, took a hard hit when COVID-19 was officially declared a pandemic in 2020 and according to the International Trade Administration, turnover fell by 95% making it difficult for the sector to perform.
However, things took a turn for the better, as we witnessed Botswana's travel & tourism sector regain its strength in 2022 due to the ease of travel restrictions leading to an uproar in revenue. Currently, Botswana is looking to explore the tourism market focus by increasing the geographical area and opening up to the mid-range market.
A few initiatives to enhance the tourism sector are as follows:
1. Tourism licenses reserved for Batswana citizens
2. GoB is encouraging the opening of lodges around the national parks to host conferences and summits as there is seen to be a serious shortage
3. 100% citizen-owned joint partnerships
4. Joint ventures are encouraged to establish hotels in the trans Kalahari region.
Below are examples of business to start in the travel & tourism industry
• Water Sports Parks
• Hotels, Lodges and self-catering accommodation
• Campgrounds and picnic sites
• Transportation (Safari game drives, bicycle and boat cruises)
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