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Tanzania’s economy received a major economic boost from tourism, with foreign exchange earnings of US$2.16bn (Sh4.8 trillion), in the year ending November 2017.
The financial injection into the economy from the tourism sector was down to many factors, two of which are attributed to the extra budgetary allocations for tourist sector promotion initiatives and the consolidation of diplomatic relations.
According the Bank of Tanzania’s (BoT’s) latest Monthly Economic Review, in November 2016 foreign exchange earnings sat at $2.10bn.
The Central Bank’s Monthly Economic Review: December 2017 reads: “Foreign exchange earnings from travel, which mainly comprises receipts from tourism, rose to $2,156.9 million in the year ending November 2017, from $2,101.2 million in the year to November 2016, owing to increase in the number of tourist arrivals.”
Managing Director of the Tanzania Tourism Board (TTB), Devota Mdachi, said in response to BoT releasing the data, that an extra budgetary allocation from the government had enabled the board to drive significant media advertising for the country’s tourism attractions, and the outcome was an increase of visitors to the country, reports AllAfrica.
Last year, TTB had managed to tap into diplomatic opportunities by preparing promotional material, which Tanzanian embassies abroad used to attract visitors, said Mdachi.
The renewal of the diplomatic relationship between Israel and Tanzania was given by Mdachi as another contributing factor to this new trend, which had the immediate effect of more than 100 tourists from Israel.
Source: tourismupdate.co.za
, in the year ending November 2017. The financial injection into the economy from the tourism sector was down to many factors, two of… "Pin It")