Professional Documents
Culture Documents
GDP
GROWTH
EMPLOYMENT
DEMAND
VISITOR EXORTS
CAPITAL INVESTMENT
GOVERNMENT EXPENDITURE
GDP:
The Travel &Tourism Industry is expected to
contribute directly
4.3% to Gross Domestic Product (GDP) in 2008 (GHC6,847.4
bn or US$726.2 mn),
rising in nominal terms to GHC18,416.3 bn or US$1,678.9 mn
(4.5% of total) by 2018.
The T&T Economy contribution (% of total) should rise from
9.6% (GHC15,186.8 bn or US$1,610.7 mn) to 9.9%
(GHC40,761.9 bn or US$3,715.9 mn) in this same period.
REAL GROWTH:
In 2008, Travel & Tourism in Ghana is Forecast to See
Real Growth of:
Rate Value
Direct Industry GDP 4.5 % ...to GHC6,847 bn
(US$726 mn)
Direct Industry 0.8 % ...to 175,000 jobs
Employment
Economy GDP 4.9% ...to GHC15,187 bn
(US$1,611 mn)
Economy Employment 1.2% ...to 393,000 jobs
However, since Travel & Tourism Touches All Sectors of The Economy,
its Real Impact is Even Greater. In 2008 Ghana's Travel & Tourism
Economy Directly and Indirectly Accounts for:
Rate Value
EMPLOYMENT:
Travel &Tourism Economy employment is estimated
at
393,000 jobs in 2008, 7.8% of total employment, or 1 in every
12.9 jobs.
By 2018, this should total 505,000 jobs, 8.0% of total
employment or 1 in every 12.6 jobs.
The 175,000 T&T Direct Industry jobs account for 3.5% of total
employment in 2007 and are forecast to total 226,000 jobs or
3.6% of the total by 2018.
DEMAND:
In 2008, Travel & Tourism is expected to post
GHC28,128.4 bn (US$2,983.3 mn) of economic activity (Total
Demand),
growing to GHC73,607.2 bn (US$6,710.2 mn) by 2018.
VISITOR EXPORTS:
Exports make up a very important share of Travel &
Tourism's contribution to GDP. Of Ghana's total
exports, Travel & Tourism is expected to generate
20.7% (GHC12,766.2 bn or US$1,354.0 mn) in 2008,
increasing to GHC33,349.1 bn or US$3,040.2 mn (21.7% of
total), in 2018.
CAPITAL INVESTMENT:
Travel & Tourism Capital Investment is estimated at
GHC4,101.5 bn, US$435.0 mn or 8.2% of total investment in
year 2008.
By 2018, this should reach GHC10,797.1 bn, US$984.3 mn or
8.4% of total.
GOVERNMENT EXPENDITURE:
Government Travel & Tourism operating
expenditures in Ghana in 2008 are expected to total
GHC729.3 bn (US$77.3 mn), or 3.3% of total government
spending.
In 2018, this spending is forecast to total GHC1,961.6 bn
(US$178.8 mn), or a 3.4% share.
Hotels-
Trend towards Temporary Staff Recruitment
Indicator of Seasonality and or lack of recognition for skills
Indicator of very little quality-demanding consumers
Impact on Service Quality
Tour Operators
Trend towards Temporary Staff Recruitment [Tour Guides]
Indicator of Seasonality
F&B
Trend towards Temporary Staff Recruitment
Indicator of lack of recognition for skills
Indicator of very little quality-demanding consumers
Indirect Jobs from Capital Projects
Hotel Construction
Hotel Occupancy
Upper quartile 65% plus
80% plus [for 3-5 star in Accra]
Tours
Cultural Tours increasing
Educational Tours increasing
Food and Beverage Subsector
Trends in Self-service increasing
Ghanaian increasingly dining out at lunch-time and on weekends-
[Sundays especially]
More establishments coming p due to low barriers to entry,
especially in informal Sector
Profitability of up to 70% gross
Internal
International/ Transnational players changing the climate in
Hotel Sub-Sector
Ethnic Cuisine taking over in the Fine Dining Category
Service Quality still a challenge in MSMEs
Hotels, Restaurants, Chop Bars
External
Tourist Product Competition questionable because of Unique
cultural product
Neighbours leveraging on Lack of Aggressive Tourism
Branding and Marketing by Government killing Sector
POSITIVE NEGATIVE
ACN/CAN 2008 Crime
Increased arrivals from Africa an sub- Mugging on the rise
region Armed Robbery
Increased revenues
Roadside Thuggery on the rise
Travel Advisory negative about Ghana
UNCTAD XII/AU Summit/ High Road Accident Rates
Ghana@50 Even President involved!!!
Construction of Extra Luxury Elections 2008
accommodation provision- direct & Risk of clashes- reduced tourist arrivals in Oct-
indirect jobs Dec
Tourism Marketing and Promotion High Oil Prices
ITB 2008 [resumption]- increased Higher air fares to compound existing high rates
arrivals from Germany Recession in US [Credit Crunch]
COTTM 2008 [new market]- African American Market adversely affected
Gold Award in April- National Airline Crisis- GIA
increased arrivals expected from China Barbados; irregular flight schedules
Civil War in Bawku
Low turnout in North and Ghana as a wholefor
Community-Based Tourism oriented Tourists-
Mole, Weichiau, Sirigu/SWOPA
Travel Advisory negative about Ghana
Mid-Year Private Sector Review of the Ghanaian 12/09/21
economy- TOURISM SECTOR-GHATOF
Tourism Policy initiative in 2008
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