Tourism industry accounts for 6.9% of GDP in 2022- Report
The 6th Tourism Satellite Account (TSA) Report for 2022 was launched in Windhoek on Thursday. According to the report, tourism activities contributed 6.9% to the country’s Gross Domestic Product in 2022, with the tourism sector estimated at N$14.3 billion in monetary value
The TSA report compiled by Namibia’s Ministry of Environment, Forestry, and Tourism in conjunction with the Namibia Statistics Agency (NSA) with financial and technical support from the United Nations Economic for Africa, measures the direct economic contribution of tourism to the economy.
The report further captures comprehensive statistics that will contribute to informed decision-making and strategic planning for the tourism sector.
Namibia Statistics Agency, statistician-general, Alex Shimuafeni in a statement said the compilation of the TSA 2022 adhered to the methodologies outlined by the United Nations World Tourism Organization, ensuring alignment with the System of National Accounts compilation methodology.
“The report highlights tourism as a significant employer in the Namibian economy, with 57,571 direct employments attributed to the sector. In terms of investment, the Gross Fixed Capital Formation (GFCF) in Tourism was estimated at N$401 million in 2022, representing 1.3% of the overall GFCF,” he said.
Furthermore, Shimuafeni said tourism collective consumption, which includes tourism goods and services primarily provided by the government, was estimated at N$447 million, constituting a 1.7 % direct contribution of tourism to collective consumption at the national level in the 2021/22 financial year.
In his keynote address, the Minister of Environment, Forestry and Tourism, Pohamba Shifeta elaborated that the TSA, serves as a fundamental tool for economic measurement within the tourism sector, offering insights into its multifaceted contributions to national GDP, job creation, foreign currency earnings, skills development, and overall economic and social developments.
“The wealth of information contained in this report empowers us to identify trends, assess the effectiveness of marketing initiatives, and tailor our offerings to meet evolving consumer preferences,” he added.
Meanwhile, United Nations Resident Coordinator, Hopolang Phororo hailed the launch of the TSA as a milestone in the nation’s development journey, demonstrating the government’s commitment to understanding the tourism landscape and charting a transformative path for the country’s benefit.
TSAs provide an internationally recognized and standardized method of assessing the scale of tourism-related production and its links across different sectors.
