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Zimbabwe Launches First UNWTO National Tourism Satellite Account

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Harare, Zimbabwe, April 6, 2022 / TRAVELINDEX / UNWTO has partnered with the Ministry of Environment, Climate, Tourism and Hospitality Industry (MECTHI) of Zimbabwe to launch the country’s first National Tourism Satellite Account (TSA) today.

The Account shows the size and significance of the tourism sector for the Zimbabwean economy, based on the last available pre-COVID-19 data and on data gathered before the formal transition of national currency from US dollar into the Zimbabwean Dollar. The TSA revealed that tourism accounted for 4.25% of the National Gross Domestic Product (GDP) with a value of USD1.03 billion in 2018. In 2019 the sector accounted for 6.3% of GDP with a value of USD1.23 billion. At the same time, the data also shows that tourism accounted for 1.56% of national employment levels in 2018, with around 100 000 jobs supported and created.

The TSA was produced as part of the Zimbabwe Destination Development Program, a technical assistance program supported by International Finance Corporation (IFC). As well as recording the number of tourists visiting the country, the initiative also provides monetary and non-monetary tourism data related to demand and supply and measures the value of expenditure on goods and services across all types of tourism as well as the value of tourism-sector industries producing goods and/or services. It will be used for quantifying tourism’s contribution to GDP and national employment rates.

Data for tourism’s restart and recovery
Tourism in Zimbabwe has been significantly impacted by the pandemic, with the introduction of travel restrictions and lower demand from tourists leading to a massive fall in visitors. The loss to the national economy is estimated at USD690m. According to the IFC’s Country Manager, Adamou Labara said, ‘these empirical findings highlight the opportunity for policymakers in Zimbabwe to support recovery of the tourism sector through stimulating traveller demand, and responsibly reducing barriers to entry’.

By addressing information gaps and supporting a data-driven approach to policy development and investment decisions, the TSA should prove particularly relevant to Zimbabwe’s tourism sector as it works towards sustainable recovery and growth from the impacts of the pandemic. The development of the TSA is one of the key milestone projects for the tourism sector under the National Development Strategy (NDS1 2021-2025).

First published at TravelNewsHub.com – Global Travel News

Green Hotel Investments to Restart Tourism

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Green Hotel Investments to Restart Tourism

Madrid, Spain, July 30, 2021 / TRAVELINDEX / Destination Capital (DC) has signed a collaborative arrangement with the World Tourism Organization (UNWTO) of the United Nations to support the rejuvenation of the hotel industry. The arrangement supports the relationship DC has with the International Finance Corporation (IFC) to promote investment in green and sustainable tourism accommodation and to stimulate re-employment, particularly in the wake of the COVID-19 pandemic.

• Read all the latest UNWTO News and Updates here.

The collaboration between UNWTO and Destination Capital is based on DC’s adoption of best practices aimed at reducing carbon emissions and operating hotels in a manner consistent with IFC’s environmental and social criteria. Against this backdrop, DC acquires and repositions freehold hotels of 150-250 rooms in Thailand and across South-East Asia with the aim of implementing sustainable water and energy systems. It also works to promote gender equality at every level of the hospitality sector, another of UNWTO’s core priorities and in line with Sustainable Development Goal number 5.

While governments and destinations around the world are working on vaccination programs to accelerate the restart of the tourism, UNWTO is working with the private sector to encourage employers to play their part in the recovery of local communities through job creation and training programs. UNWTO data shows that international tourism arrivals fell by 1 billion in 2020, with the crisis carrying over into 2021. Worldwide, this has placed as many as 120 million tourism jobs directly at risk. Moreover, Asia and the Pacific has been the worst-affected of all global regions, and young workers and women are among the hardest hit by the downturn in tourism employment.

• Read all the latest UNWTO News and Updates here.

In line with the 2030 Agenda for Sustainable Development, DC recognizes the hotel industry not only has a responsibility to re-hire and re-train hotel staff. It is also increasingly under pressure to reduce its carbon footprint and mitigate the impact of energy and water consumption as well as food waste and environmental degradation. DC is committed to retrofitting its hotels to be compliant as ‘green hotel’s as per the Excellence in Design for Greater Efficiencies (EDGE) standards established by IFC.

About Destination Capital
Destination Capital is a private equity real estate investment company based in Bangkok Thailand which focuses on acquiring, renovating and repositioning hotel assets such that they are EDGE compliant and follow a rigorous sustainability protocol in order to unlock value for our capital partners. Rigorous asset manage programs are in place to yield higher values upon exit while pursuing a “Triple Bottom Line” strategy: Planet, People, Profit.

First published at TravelCommunication.net – Global Travel News

First published at TravelNewsHub.com – Global Travel News