Tourism is business – the solution to an ailing economy

Tourism being the fourth largest source of global earnings estimated at US$2.7billion seems to be underutilised in Ghana as Ghana contributes a minuscule US$191million to this basket.

However, Ghana, as a developing nation, ought to capitalise on this sector as a key economic driver in generating foreign exchange earnings for its development.

Unfortunately, tourism – as a business – has not been fully explored, and more so, remains not being emphasised.

This sector, just as others, immensely contributes to the overall growth and development of a country and it is without a doubt that this area creates varied job opportunities for the citizenry of a country.

As well, it strengthens the local economy, contributes to the local infrastructure development, the conservation of the natural environment, cultural assets, and traditions.

It is without a doubt that tourism has the propensity to single-handedly cure an ailing economy, such as Ghana’s.

The business side

Using Dubai’s tourism success story as a case study, Dubai’s growing numbers is a testament to the robust business and destination development strategy defying the challenging market and regional elements of its time.

As of 2020, The Dubai Government achieved its target of receiving 20 million international passenger flow annually, positioning the country as the fourth most-visited city in the world. These heights were attained through a unified public-private sector partnership-led approach.

Significant investments were needed to sustain the competitiveness of the tourism sector in the country to compete with global super tourist centres. Dubai, after the discovery of oil, invested its oil revenues in building the city’s infrastructure, which contributed to the tourism boom.

Today, Dubai is notable as a global business hub and a luxury tourist destination, becoming among the wealthiest states globally.

Leaving nothing to chance, this country maximised its resources and successfully built a lucrative business around it. From converting its deserts into dune bashing, camel riding safaris to its tree-shaped Palm Jumeirah Island, Dubai has worked extremely hard in building such an enviable reputation for itself.

Juxtaposing this with Ghana, it is undeniable that Ghana has a lot of emulation to do in the area of tourism. With over 100 tourist sites, it is time for Ghana to explore in detail the secret money-making venture called tourism.

A total overhaul, face-lift, and rebrand will invariably pose the country as the leading holiday and tourist destination in West Africa all-year round.

The government will have a role to play as much as the citizenry as this agenda will benefit all and sundry. Tourism, with a little effort, will be the number one source of revenue for the country if the various aspects of it are taken advantage of well.

Domestic, medical, culinary, agric, educational, religious, business, sports, and cultural tourism are all very essential areas yet to be explored by our country Ghana. The time to strive to put resources into these areas is now!

The zeal for this overhaul is driven by local and foreign demand, especially in recent times from the diasporans. Identifying the many strengths Ghana has in this area will catapult the country unto the global tourism leadership chart.

The writer is a dual-qualified lawyer by profession and focuses her practice in the areas of corporate commercial transactions and intellectual property (specifically trademarks). She has recently completed studies in an Executive Masters in Business Administration (EMBA) and awaits graduating in a few months. Her interests span from law to business. She can be reached via [email protected]