Government aiming to achieve 35% of GDP through tourism - Ken Ofori-Atta

Finance Minister, Ken Ofori-Atta, has emphasized the significance of tourism and its potential impact on the domestic economy and pathway for job creation.

According to him, the government is targeting to achieve about 35 percent of Gross Domestic Product through tourism to propel economic development across the country.

Speaking at an event to commission the redeveloped Kwame Nkrumah Memorial Park in Accra on July 4, the finance minister said the edifice is expected to contributed significantly with some 1.2 million anticipated tourism arrivals into Ghana for 2023 with an estimated corresponding revenue of $3.4 billion.

“The evidence of the vital role of tourism for economic development is clear. For instance, in 2022, tourists spent 660 billion in emerging and developing countries which is about 3 times the amount of official development assistance for that year,” he noted.

“Tourism contributes about 5 percent of Ghana’s GDP and in Jamaica its about 35 percent of their GDP and that is where we [Ghana] want to achieve,” Ken Ofori-Atta.

He added that the tourism sector presents a unique opportunity to create jobs which provides income for livelihoods and pathways out of poverty for millions across genders, ages and skill levels.

The finance minister however commended the Ministry of Tourism for their efforts in ensuring the sector is prioritized and augmented to provide the needed contribution for national development and cultural advancement.

He also thanked the World Bank for their relenting financial support of $3.5 million for the redevelopment of the Kwame Nkrumah Memorial Park.

Meanwhile, President Nana Addo Dankwa Akufo-Addo on his part said the 5.4-acre facility, which was built in 1992 to honour, promote and preserve the legacies of Ghana's first president, Dr. Kwame Nkrumah has never seen any major facelift until this one.

He added that the renovated park now befits the exceptional status of Dr. Kwame Nkrumah, a Pan-Africanist who stood out in the fight for the liberation of Ghana and the rest of Africa.

The park's renovation, which was estimated at US$3.5million, is part of a US$40 million World Bank-supported Ghana Tourism Development Project (GTDP) meant to improve the performance of tourism in targeted destinations across the country.

MA/FNOQ