The Botswana Tourism Investment Summit aims to spotlight the country as an economic tiger in the making for its untapped tourism and investment opportunities.

The highly anticipated ‘Botswana Tourism Investment Summit’ hosted by International Tourism Investment Corporation Ltd (ITIC – www.itic.uk) in partnership with Botswana Tourism Organisation (BTO) will be held in Gaborone, Botswana on 22-24 November 2023 and will aim to highlight the country’s strong potential and untapped tourism and investment opportunities.

The Botswana Tourism Organisation (BTO) and International Tourism and Investment Conference (ITIC), in collaboration with the International Finance Corporation (IFC) have today announced that the upcoming ITIC Tourism Investment Summit will take place in Gaborone, Botswana on 22-24 November 2023. The two-day Summit is expected to act as a catalyst for unlocking investment opportunities for Botswana which remains a relatively unexploited tourist region.

Over the last few years, Botswana has been actively shifting to another stage of its economic development. The country is strongly positioned in the heart of southern Africa as a gateway to South Africa, Zimbabwe, Zambia and Namibia – effectively a conduit for investors to do business with the rest of Southern Africa. A conducive environment will be rolled out to accelerate the impact of foreign investment and tourism within Botswana that has become the future engine of growth and is Africa’s longest surviving democracy since independence with a stable and prosperous economy.

Speaking ahead of the Summit, Hon. Philda Nani Kereng, Minister of Environment and Tourism of Botswana, said: “Botswana opens its doors to international sustainable investment opportunities that, till now, have been relatively untapped. Our mission is to provoke new thinking and explore new opportunities and financial mechanisms for sustainable investments in travel and tourism and business. We are honoured to host the Botswana Tourism Investment Summit organised by ITIC and with a landscape like no other, we strongly encourage policy makers and investors not to underestimate the potential of one of the most beautiful countries within Africa. Rated Africa’s best safari destination 2023, the Summit propels investments towards building Botswana as a destination of choice for business”.

The Botswana Tourism Investment Summit and Exhibition will host approximately 300-400 tourism and financial services CEOs and business elites who will deliver an unrivalled combination of thought-provoking content and extraordinary networking opportunities. This will bring together international leaders and project developers in the tourism, travel and hospitality sectors and connect them with investors from private equity firms, investment banks, institutional investors, fund managers and influencers, who have the power to channel capital and to raise funds to invest in sustainable tourism projects.

The Summit will see some of the best specialists explore the current trends and discuss the future of the tourism industry in Botswana. This was reiterated by IFC – International Finance Corporation’s acting Country Manager for Botswana, Indira Campos, who said, “Tourism is a key enabling sector in Botswana with high potential for growth and can help create jobs, reduce inequality, and contribute to diversifying the economy. IFC is committed to supporting efforts to further develop Botswana’s tourism sector by attracting private investment into lodges and other tourism-related infrastructure, including transport, hotels, camp and caravan sites, and food and hospitality services.”

IFC, a member of the World Bank, promotes private sector development in emerging markets, and its work in the tourism sector is a key part of that mission. IFC provides financing and advisory services to help businesses in this sector grow and create jobs, while also promoting sustainable and inclusive economic growth.

Furthermore, Dr. Taleb Rifai, Chairman of ITIC & former Secretary General of the United Nations World Tourism Organisation said: “We are delighted that Botswana has been recognised for the vast investment potential available to potential stakeholders. The country’s financial and capital markets are among the most sophisticated in Africa, and our Summit provides the opportune platform to drive international awareness and further investment into Botswana and act as a catalyst for growth.

Botswana has over the years consistently ranked highly on economic and development indicators compiled by internationally recognized rating agencies such as a Business report. Transparency International. Ease of Doing Business Report (World Bank)

Strategically located at the heart of Southern Africa, Botswana offers excellent opportunities for investment. Botswana has managed to maintain a stable and growing economy since its independence in 1966. According to the United Nations, “Botswana’s greatest assets are peace, law & order, disciplined fiscal and monetary policies, and capable public institutions.”

Botswana has over the years consistently ranked highly on economic and development indicators compiled by internationally recognized rating agencies such as:

• Business report
• Transparency International
• Ease of Doing Business Report (World Bank)
• Heritage Foundation
• Moody’s
• Standard & Poors
• The Global Competitiveness Report (World Economic Forum)Global Rating Agencies
• The World Economic Forum’s (WEF) Global Information Technology Report (GITR)
• Corruption Perception Index

In her effort to attract Foreign Direct Investment, Botswana offers the following investment incentives:

• The low tax regime in the region:
• 15% for manufacturing, financial services companies, and companies registered in the innovation hub;
• 22% corporate tax for others;
• Low personal income tax of up to 25%;
• 12% Value Added Tax
• Possible tax holidays for 5-10 years
• Free repatriation of profits
• Customs Duty Draw Back Facility, Free importation of raw materials, machinery, and equipment;
 
• Great market access opportunities:
• Duty-Free Quota Free Market Access to more than 50 million consumers in Botswana, South Africa, Namibia, Lesotho, and Eswatini;
• Preferential market access to more than 345 million consumers in the SADC region;
• Duty-Free Quota Free Market Access to the USA;
• Duty-Free Quota Free Market Access to the European Union;
• Double taxation agreements in place with South Africa, United Kingdom, Sweden, Mauritius, India, and Russia;
 
• Botswana has a record of harmonious industrial relations, which aim to protect the interests of both workers and employers;
• Botswana offers a thriving domestic financial sector, which includes banks, insurance companies, and a growing stock market. Botswana has acceded to international conventions and is strictly observing internationally accepted guidelines on combating money laundering and financial crime.