Ghanaâs tourism industry has seen a dynamic turn around more especially with the recent oil discoveries.
Leisure & Tourism sector in Ghana Ghana?s tourism sector is undergoing rapid expansion. The industry has strong foundations to build on; political stability, direct connections to more than 20 capitals in Africa, Europe, the U.S and the Middle East. Market overview Ghana?s tourism industry has seen a dynamic turn around more especially with the recent oil discoveries. In 2011 Ghana?s economy was projected to grow by more than 13% but the estimate surged to 20.1%. The tourism industry generated an estimated $1.88bn during 2010 up from $836m in 2005 and contributing an estimated 6.2% of GDP. The increased revenue is as a result of the rising number of international tourist arrivals. The growth has supported a rising contribution of business travellers to the tourism industry which is estimated at 50% not to mention the unrecorded numbers of Ghanaian residents travelling to and from the capital as well as business visitors coming in from neighbouring countries. The Ghana Tourism Authority was established by Tourism Act, 2011 (Act 817) as the main implementing body of the Ministry of Tourism. It replaced the Ghana Tourist Board which was established by NRCD 224 in 1973 as amended by SMCD 80 of 1977. Over the past 15 years government policy has been directed by the 1995-2010 National Tourism Plan which aimed for diversified sector growth by widening the target audience and the tourism offer. Investment Incentives There are generous incentives specifically for this sector. Goods imported by hotels and restaurants (including fast food chains with a seating capacity of thirty or more persons) under GIPC Act, 1994 (Act478) are admissible at10%concessionary duty rate. The items considered which should be in the appropriate quantities (relating to size, number of rooms, seating capacity etc.) are as follows: Refrigerators/deep freezers, Television sets, Air conditioners, Public Address Systems, Furnishing( including carpets, bedding and fixtures),Fans, Radio sets and Crockery. There are also General incentives which provide for automatic incentives like tax incentives and benefits. Ghana has two main deepwater coastal ports ? Tema and Takoradi which are managed by the statutory corporation Ghana Harbour Ports Authority (GHPA). Investment Guarantees Ghana is a safe investment destination. Guarantees against expropriation of private investments provided under law are buttressed by the Ghanaian Constitution. Some investment guarantees are detailed below: i. Free transferability of capital, profits and dividends ii. Insurance against non-commercial risks ? Ghana is a signatory to the World Bank?s Multilateral Investment Guarantee Agency (MIGA) Convention iii. Double Taxation Agreements (DTAs) ? to rationalize tax obligations of investors in order to prevent double taxation. DTAs have been signed and ratified with France and the United Kingdom. DTAs have been signed with Germany and concluded with Belgium, Italy and Yugoslavia Key opportunities Accommodation ? Single ?hotel resorts at beach sites, botanic garden sites etc ? Business Hotels of all classes ? Lodges and Inns desirable locations include eco-tourism sites,as well as other isolated tourism attraction sites and towns. ? Motels on major tourist routes ? Hostels particularly on or near university campuses for dual use by tourists and campus students. ? Camping Sites for the trans-saharan adventure tourists with paga, Tamale, Kintampo Falls, Kumasi, Accra ? Small and medium scale rest-stops with basic facilities for parking, washrooms, basic refreshments etc. Tourist Information Shops ? High demand in the country?s major tourist centres particularly in Accra, Kumasi, Cape Coast/Elmina and border entry points Tourist Transport Services ? Tourist Taxi -This is highly inadequate and may be operated by companies licensed by Ghana Tourist Board and registered to operate from specified bases namely hotels, airport and other transport terminals ? Air Taxi- There is a growing demand from both business and holiday visitors requiring quick visits to locations outside Accra. ? Car Hire-The growing traffic is not being matched by investments in the various categories of road transport vehicles especially tourist coaches,buses, limousines and cross country vehicles for trekking and safaris. ? Cruise Boats-The Volta Lake offers opportunity for the operation of various types of lake transportation for various leisure purposes such as cruise excursions or purely passenger service or for a more personalized recreation like fishing etc. Tourist Travel Services ? Tour Guiding Services-There is a need for companies to provide tour-guides for operators and conference organisers. ? Tour Handler Services-Providing logistics etc to assist in-coming tour operators. ? Tour Operations-Large ?scale tour operators with all manner of resources (buses, coaches, offering attractive packages) Entertainment ? There is an influx of pubs, discotheques and night clubs and casinos but the regional capitals still lack a decent night life. ? There are still opportunities to develop Amusement Parks and theme parks around the country. The Cinema industry in all the regions have literally collapsed. ? Shopping ? Surveys indicate that most visitors to Ghana return home with most of their ? pocket/spending money because the country does not offer great shopping opportunities. ? Souvenir shops, shopping malls and arcades and duty free shops are required. ? Other opportunities exist in providing tourism financial services, tourism medical services etc. Latest export opportunities - Leisure & Tourism Latest export opportunities - Ghana Getting into the market All foreign companies are required to register with the Ghana Investment Promotion Centre (GIPC) who can assist with guidance on the bureaucratic procedures for investment. Guidance available at www.gipcghana.com The Ghana Tourist Authority is the main implementing agency for the Ministry of Tourism- www.ghana.travel Its functions include: ? The regulation of tourism enterprises ? The promotion and marketing of tourism etc More about doing business in Ghana Contacts Market intelligence is critical when doing business overseas, and UKTI can provide bespoke market research and support during overseas visits though our chargeable Overseas Market Introduction Service (OMIS). To commission research or for general advice about the market, get in touch with our specialists in country - or contact your local international trade team. ? Lydia Bampoe, British High Commission, Ghana. Tel: +233 (0)302 213312 or email: Lydia.Bampoe@fco.gov.uk. ? UKTI Ghana Trade Team, British High Commission, Ghana Tel: +233 (0)302 213300 or email DLAccraUKTIprotect@fco.gov.uk Contact your local international trade team UKTI Events UKTI runs a range of events for exporters, including seminars in the UK, trade missions to overseas markets and support for attendance at overseas trade shows. Latest events - Leisure & Tourism Useful links More about OMIS and other UKTI services for exporters