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Image by Alan J. Hendry

TOURISM

Namibia is known for her vast open spaces, abundant wildlife, and rich cultural diversity. The country’s relatively low population density of 3.6 persons per square kilometre and good environmental management practices have resulted in the preservation of scenery and increased wildlife populations. The tourism sector in Namibia has enjoyed a relatively stable growth since the country gained independence in 1990 and has been regarded as the third largest contributor to the country’s Gross Domestic Product. The country’s commitment to conservation has also contributed to the growth of the tourism industry. 

Namibia was ranked 10th in Africa and 95th in the world by the World Economic Forum’s Travel and Tourism Development Index 2024 (TTDI). The TTDI benchmarks and measures the set of factors and policies that enable the sustainable and resilient development of the Travel and Tourism sector.

The Namibian tourism sector is characterised by a number of players ranging from regulator to industry associations, from tour operators to travel agencies, as well as hospitality establishments of various types and catering to the different needs of tourists. The full spectrum of accommodation providers in this industry includes hotels, guest houses, guest farms, lodges, rest camps, pension hotels, backpackers and bed & breakfast establishments. Tourism customers consist of both business and recreational travellers from domestic and foreign markets, mainly from Africa and Europe. 

The Namibia Tourism Satellite Account estimates that tourists spent about N$14.8 billion in the Namibian economy in 2022. Over 63 percent of the total estimated expenditure was spent on accommodation, shopping, road transport, and food and drinks. Based on the 2018 Namibia Labour Force Survey figures, the 2022 Tourism Satellite Account estimates that tourism contributes 7.9 percent of total employment, and that all tourism-related industries contributed 14.4 percent of total employment in Namibia. 

INVESTMENT OPPORTUNITIES

Namibia’s tourism industry offers unique attractions and heritage sites, but its potential remains largely untapped. Given the country’s low population, there is still a lot of pristine land with ample opportunity for investment. The industry is therefore expected to expand substantially in the coming years and offers real value for investments.

Investment opportunities exist across nine broad areas, namely: 

  • Wildlife tourism

  • Community-based tourism

  • Coastal tourism

  • Trophy hunting for wildlife management

  • Circuit development/route development model

  • Business tourism - Meetings, incentives, conferences and events (MICE)

  • Medical and retail tourism (regional)

  • Cultural tourism

  • Cruise tourism

Opportunities can also be found within film tourism, sport and adventure tourism such as hiking, camping, photography and wildlife safaris. Potential investors are encouraged to do detailed research into these value chains in order to identify bankable opportunities that align with their own areas of expertise, experiences and interest.

For a more detailed sector description, please click the button below to access the expanded version.

Image by Stefano Bernardo
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