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Tourists spent 150% more in 2016

In 2016 alone Botswana’s tourism sector realized 1.9 million visits which generated over 14 billion pula worth of business. This was revealed by Permanent Secretary in the Ministry of Environment, Natural Resources Conservation and Tourism, Jimmy Opelo when presenting the Tourism Satellite Account (TSA) update on Monday in Gaborone.

TSA is a program by the United Nations World Tourism Organization (UNWTO) that develops tourism measurement for further knowledge of the sector monitoring progress, evaluating impact, promoting results-focused management, and highlighting strategic issues for policy objectives.

The programme works towards advancing the methodological frameworks for measuring tourism and expanding its analytical potential, designs practical guidance for their implementation in countries, supports statistical strengthening in countries through capacity building, and compiles and disseminates tourism statistics of countries all over the world. 

The project which normally runs for a full year was first undertaken in Botswana as a pilot exercise in 2006, it primarily seeks to gauge the contribution of the tourism sector and its whole value chain businesses. According to the findings shared at the launch, in 2016 alone, tourists who visited Botswana spent 150 % more that they spent in 2009 (last TSA reference year).

This, according to the data as compiled in the TSA was predominantly due to increased numbers of visitors, prolonged stays and high spending by visitors during travel. The average length of stay by tourists in Botswana increased to 6.75 nights in 2016 from 5.32 nights in 2009.

The Account also continues to reveal that Botswana‘s tourism sector contributed 4.9 % to the economy in the year under review compared to 3.9 % noted in 2009. This are direct analysis, when juxtaposed to indirect contributions in 2016 the sector’s worth to the national economy was estimated at around 7.6 %.The analysis on indirect contribution takes into account  the complimentary industries that support the tourism sector and the whole travel & tours value chain machinery.

The Permanent Secretary underscored that the findings of the Satellite Account reflects that Botswana‘s Tourism Sector was improving year in and year out. “Tourism has been identified as an important sector in the economy; it creates jobs, and generates income for local communities and has direct contributions to government revenues.” He added that the sector was based on personal service and it was therefore employment intensive. “It is a major foreign exchange tax earner. It spreads wealth and builds skills,” said Opelo.

The one year project was developed with the technical support of the World Tourism Organization (UNWTO.)The project was funded by Peace Parks Foundation, the implementing agency of the Kavango Zambezi Trans-Frontier Conservation Area Programme (KAZA), through the German Development Bank. World Tourism Organization officials said on Monday that the Satellite Tourism Account intention was to Implement an improved Inbound Visitor Survey and provide in-depth training to ensure ongoing data collection and analysis.

Botswana‘s tourism sector according to WTTC

Meanwhile, according to another organization,  the World Travel & Tourism Council(WTTC) in its 2017 report Botswana’s Travel & Tourism direct contribution  to  the country ‘s Gross Domestic Product(GDP)  was BWP6,278.9 billion  (USD573.5mn), 3.9% in total.

The total contribution of Travel & Tourism to GDP was BWP17,779.5 billion  (USD1,623.8mn), 10.9% of GDP in 2016, rose  by 6.5% in 2017, and  is expected to rise by 5.5% pa to BWP32,204.9 billion (USD2,941.3mn), 12.2% of GDP in 2027.In 2016 Travel & Tourism directly supported 25,000 jobs  (2.6% of total employment).  This rose by 6.8% in 2017 and the WTTC says it is expected to 4.8% pa to 43,000 jobs (3.8% of total employment) by 2027.

In 2016, the total contribution of Travel & Tourism to employment, including jobs indirectly supported by Visitor exports generated BWP6, 220.0 billion (USD568.1mn), 5.8% of total exports in 2016.  The Travel & Tourism investment in 2016 was BWP3, 712.8 billion, 8.5% of total investment (USD339.1mn). “It rose by 0.8% in 2017, and should rise by 5.0% pa over the next ten years to BWP6, 083.8 billion (USD555.7mn) in 2027, 8.6% of total,” reads the report.

Botswana’s tourism sector is mainly supported by wildlife and wilderness features. The country prides itself in being home to the largest inland delta in Africa and one of the largest and most prestigious in the world, The Okavango Delta which is also listed as UNESCO World Heritage Site.

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China’s GDP expands 3% in 2022 despite various pressures

2nd February 2023
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.

The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.

In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.

Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.

China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.

Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.

On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.

According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.

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Jewellery manufacturing plant to create over 100 jobs

30th January 2023

The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.

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Investors inject capital into Tsodilo Resources Company

25th January 2023

Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.

According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.

The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.

Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.

Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana.  The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.

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