Natalia Bayona,
Executive Director, UN Tourism

“Tourism Doing Business – Investing in Zambia” serves as an essential resource, providing valuable insights into Zambia's economic landscape, investment potential, value proposition, and competitiveness in the tourism sector.  

With a focus on fostering economic growth and sustainable development, this guide is a roadmap for unlocking the vast opportunities within Zambia's tourism industry. 

ECONOMIC OUTLOOK 

Despite experiencing ups and downs, Zambia has demonstrated its ability to bounce back from challenges and seize new opportunities. According to the International Monetary Fund (IMF), Zambia's economic outlook continues to show promise, with projected growth rates of 4.3% in 2023, 4.7% in 2024, and 4.8% in 2025.  

Nonetheless, its consistent growth rate of 3.2% over the last decade, surpassing Sub-Saharan Africa's average of 3.0%, affirms the nation's resilience and stability. These optimistic projections underscore Zambia's potential for sustained economic expansion and development. The country recently concluded breakthrough deals with euro bond holder as well as its official creditors restructuring of over USD 9.3 billion of its debt representing over 73% of its debt overhang. 

INVESTMENT OUTLOOK 

Venturing further, we explore Zambia's diverse investment avenues, encompassing Foreign Direct Investment (FDI), the promising tourism sector, and the dynamic startup ecosystem. Zambia's appeal to foreign investors is premised on the country’, abundant natural resources, strategic location, and improving business environment indicating collaboration and growth.  

With an average of USD 969.7 million FDI receipts over the past decade, Zambia stands as a testament to resilience and opportunity in the global investment arena. As investors delve deeper, they uncover promising projects and regulatory frameworks, setting the stage for fruitful partnerships and sustainable development initiatives.  

VALUE PROPOSITION 

The subsequent chapters unveil Zambia's distinct value proposition as an investment haven, underscoring its economic resilience, emphasis on tourism education, tax incentives, and streamlined business setup processes. By fostering an investor-friendly climate, Zambia facilitates well-informed decision-making, enabling stakeholders to leverage the nation's strengths and actively contribute to sustainable development initiatives. 

COMPETITIVE OUTLOOK 

Lastly, turning our attention to Zambia's competitive potential on the global stage, we evaluate its market positioning and strategies for enhancing competitiveness. With a robust foundation in the tourism sector, Zambia emerges as a key player, driving GDP growth, export earnings, and employment creation. The data presented highlights the tourism sector's pivotal role in Zambia's economic narrative, underscoring its significance in driving sustainable development and prosperity.  

With its rich natural resources, diverse tourism attractions, and supportive investment environment, Zambia presents compelling opportunities for investors seeking to capitalize on the growing tourism industry. By leveraging Zambia's strengths and addressing key challenges, investors can contribute to the sustainable development of the country while realizing significant opportunities for growth and collaboration.