Story by Stanley James, Business Editor
Zimbabwe’s tourism industry is expecting cost reduction measures in the 2025 national budget to consolidate gains and sustain refurbishment of facilities.
Submissions to treasury by industry players for consideration in the national budget show growth potential and more business opportunities.
Tourism Business Council of Zimbabwe President, Mr Clive Chinwada says growth will be consolidated by cost reduction measures in the 2025 national budget set for presentation on Thursday next week.
“The budget is key in setting the tone for future growth for the treasury while intending to balance its books by generating more revenues it also needs to assess the future viability by focusing on measures to consolidate the growth trajectory,” he said.
Restaurants Operators Association of Zimbabwe President, Mr Bongai Zamchiya says tax incentives are key for further growth,” The sector is appealing for an extension of tax relief structures that have facilitated a rebound in overall production trends and this will also positively impact our ability to grow revenues and contain costs.”
Hospitality Association of Zimbabwe President, Mr Brian Nyakutombwa explains the importance of a budget that takes into consideration viability of tourism value chains.
“We want to believe that the government will come with a pro-growth budget that will boost spending so as to stimulate domestic spending which is key in sustaining overall growth of the sector.”
The tourism industry is considered strategic for the economy by fiscal authorities as it rakes in foreign currency.
