File phot of the canopy walk at the Kakum National Park
• Fitch has forecasted growth for Ghana’s tourism sector
• It said tourist arrivals are expected to witness an increase of 47% in 2021
• Ghana’s tourism sector was hugely impacted following the onset of the COVID-19 pandemic
International research agency, Fitch Solutions has projected tourist arrivals into Ghana is expected to increase by 47 percent by end of 2021.
The development comes after Ghana’s tourism sector contracted by 65 percent in 2020 as a result of the coronavirus pandemic which impacted on key sectors of the economy.
Fitch in a report explained the current forecast could be achieved following the easing of COVID-19 restrictions which has impacted on travel and movement.
“Ghana’s tourism sector has been negatively impacted by the COVID-19 pandemic and related travel restrictions. In 2021, we forecast tourist arrivals to grow by 47.0% year-on-year”, the report said.
The research agency further projected tourism growth for Ghana to remain positive for this year and 2022 adding that the wage and employment prospects of persons employed in the sector will improve significantly.
“We project the growth in tourist arrivals to remain positive in 2022, expanding by 28.4% year-on-year. The positive growth in tourist arrivals in 2021 and 2022 bodes well for hospitality businesses such as restaurants and hotels and recreation and culture establishments,” Fitch said.
It further said that the rollout of coronavirus vaccination programs and easing of COVID-19 restrictions for tourists was vital for the recovery of Ghana’s tourism sector.
Meanwhile, the Ghana Statistical Service has revealed the Hotel and Restaurants sub sector of the economy was the third fastest growing in the second quarter of 2021.