IFC - International Finance Corporation’s Post

ETHIOPIA RANKED TOP DESTINATION FOR FOREIGN INVESTMENT IN EAST AFRICA ➡ Ethiopia has emerged as the top destination for foreign direct investment (FDI) in East Africa, securing $3.3 billion in 2023, according to the UN Trade and Development (UNCTAD) World Investment Report. ➡ The Ethiopian Investment Commission (EIC) reports $3 billion in FDI during the first ten months of the 2023/24 fiscal year. It also highlights Ethiopia's potential in the tourism sector, offering investment opportunities in infrastructure such as hotels, resorts, convention centers, and cultural villages. ➡ Airport expansion projects and connectivity improvements are making it easier for travelers to access various destinations. Major tourism projects recently launched by Ethiopian Prime Minister Abiy Ahmed in Gorgora, Wonchi, and Koisha invite further investment. 🌍 Eco-lodges are becoming popular, promoting sustainable tourism that minimizes environmental impact and engages local communities. By emphasizing conservation and community engagement, Ethiopia is promoting eco-conscious tourism that creates sustainable jobs. #voice4africa #ethiopia #tourism #investment ReThinking Africa Photo Credit: Mulugeta Wolde_unsplash

Grateful for the opportunity to showcase investment trends and the investment attraction framework representing the World Tourism Organization (UNWTO) at the 4th edition of Africa Place Marketing. Special thanks to Bouchra TAIBI for the invitation and to the insightful panelists who shared their perspectives: Majid Kaissar El Ghaib, @Zinebzakraoui and bernard zeutibeu. Engaging with specialists to discuss effective strategies for attracting investments to Africa was truly a pleasure. I had the privilege of collaborating with dedicated experts, including Juan Pablo Alcantar, CEcD, Juan Carlos Belloso, Mame Awa FALL (MAF), Othmane Cherif Alami, Dr. Tarek Oliveira Shayya, Abdou Souleye Diop, Ana Castrillo-Soto, Lionel Flasseur, and other professionals from diverse regions. As we move forward, let's stay focused on creating enabling conditions for investment attraction: • Economic and political stability • Infrastructure development • Effective data collection and analysis • Promotion and branding And let's take a step further: • People: Invest in talent by promoting the professionalization of the sector • Planet: Invest in sustainability, recognizing that the tourism industry is both a cause and a casualty of climate change. Investments are crucial for both mitigation and adaptation • Prosperity: Invest in innovation and technology, particularly given that 80% of tourism businesses are composed of SMEs. It's essential to focus on their adaptation to new technological trends Let's continue working together towards a future of sustainable and prosperous investment in Africa #AfricaTourism #InvestmentTrends #PlaceMarketing #CasablancaEvents #SofitelCasablancaTourBlanche #EconomicStability #InfrastructureDevelopment #InvestmentAttraction

Isle of Man - #Africa Expand cooperation across all economic sectors Our goals: Strengthen collaborations with the private and public sectors to advance trade, tourism, and investment between the Isle of Man and Africa. The Isle of Man Indaba