African nations to promote tourism potential at Blue Economy Forum
African countries are gearing up to highlight investment opportunities in their tourism sectors at the upcoming Blueinvest Africa 2024 forum in Diani, Kenya on 2 July. The event aims to attract financing for the continent's burgeoning $300 billion blue economy, which encompasses industries like coastal tourism, maritime transport, and sustainable marine biotechnology.
Kenya's President William Ruto will host the EU-backed forum, where entrepreneurs from 17 African nations will pitch innovative blue economy projects to potential investors. While aquaculture initiatives are most prominent, reflecting food security priorities, the tourism sector is also well represented.
Several coastal nations like Senegal, Ghana, Tanzania and Kenya itself are expected to showcase tourism ventures focused on areas like eco-resorts, marine conservation experiences, and cultural heritage tours. These opportunities come as Africa's overall tourism market is projected to grow to $405 billion by 2030.
The forum spotlights tourism as a key driver of the blue economy's potential for economic growth and job creation across the continent. With a forecasted 4.2% GDP growth in Africa by 2025 according to the African Development Bank, attracting investment into sustainable coastal and marine-based tourism is a strategic priority.
Source: Biz Watch
