While the world reels under economic challenges brought on mainly by the collapse of global crude prices, Ghana’s hotel industry has remained resilient, a report by global accounting firm PricewaterhouseCoopers LLP (PwC) received here on Wednesday said.

This, it said, was the result of steps taken by government to diversify the economy, such as promoting the hospitality and tourism sector.

The hotel sector in Ghana has remained resilient despite recent global economic challenges. Following the collapse in the oil price and that of other commodities, the government has taken steps to diversify the economy, including promoting the hospitality and tourism sector.

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In a report titled “Opportunities Abound for Foreign Investment in Africa’s Hospitality Sector”, PWC recalled that as of May 2017, there were 2, 723 hotels and lodges in Ghana with a number of internationally-branded hotels based in the capital, Accra.

The government is also making improvements in transport infrastructure, with the construction of a third terminal at Accra’s Kotoka International Airport and allocation of funds for the repair of roads to popular tourist destinations, the report noted.

The report said the hotel industry was expected to grow 1.1 percent in 2017, 2.1 percent in 2018 and 2.3 percent in 2019.

Ghana’s hospitality industry grew 1.2 percent from 2015 to 2016 and the World Travel & Tourism Council (WTTC) projected Ghana’s tourism industry to expand by 5.6 percent in 2016 and to maintain an annual growth rate of 5.1 percent per annum from 2017 through to 2027.

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The PWC report said it expected an increase in the number of business travelers to the country as the government embarked on a number of initiatives to stimulate economic growth.

Pietro Calicchio, Hospitality & Gaming Industry leader for PwC Southern Africa, said the growth potential of Africa was high mainly because of the rapid economic growth in some economies; a growing middle class and an increase in visits from foreign visitors. Enditem

Source: Xinhua/Newsghana.com.gh