Why Invest in Tourism in Ethiopia
Growing Double Digit Economy
The International Monetary Fund (IMF) ranks Ethiopia as among the five fastest growing economies in the world. New buildings are rising in the cities daily and sectors like tourism, trade, agriculture, infrastructure, education, health, sport and many others are developing at a fast pace. Ethiopia is a country in motion and presents a positive energy for investors.
Stability and Security
Ethiopia is stable and safe for travelling, and the locals are welcoming and hospitable. Ethiopia is ranked positively in the Global Competitiveness Report in terms of ‘Business costs of crime and violence’ (44 out of 144 countries).
Growing Trend of International Tourism Arrivals
Inbound Tourist Arrivals in Ethiopia have grown from 115,000 in 1999 to almost 800,000 in 2014.
International Air Connections
Thanks to its strategic location in the crossroads between Africa, the Middle East, and Asia and to the national carrier Ethiopian Airlines (a member of Star Alliance), Addis Ababa is a top air hub in Africa. Ethiopian Airlines is a dynamic company constantly expanding its network of flights, currently serving 90 destinations worldwide.
Domestic Air Travel
A well-developed network of domestic airports and flights serves the main tourism destinations. Ethiopia is also well ranked in the Global Competitiveness Report in terms of ‘Quality of air transport infrastructure’ (38 out of 144 countries).
Improving Road Infrastructure
The majority of tourism destinations can be accessed by paved roads.
Unique Cultural and Natural Attractions, with great potential to be further developed:
- Highest number of UNESCO World Heritage sites in Africa (8 cultural world heritage sites, 1 natural world heritage site, 1 intangible cultural heritage).
- Land of Origins. Ethiopia is the cradle of humankind, where our ancestors first walked on two legs. It is also the source of the Blue Nile and it is the origin of coffee that still grows wild in the lush forests of the West.
- A wealth of archaeological sites and treasures: the oldest tools in the world, the remains of great civilizations like Yeha and Aksum, with its giant monoliths, of powerful kingdoms that gave splendor to Gondar with its 17th century fairytale castles unique in Africa.
- Living kaleidoscope of peoples drawn from many different ethnic backgrounds and speaking 80 different languages.
- Dramatic landscapes: from the highlands that reach over 4000m in the Simien Mountains National Park (the Roof of Africa), to the Danakil Depression situated under sea level, plus active volcanoes and lakes such as those dotting the Great Rift Valley.
The Diplomatic Capital of Africa, Addis Ababa
Addis Ababa hosts 120 foreign embassies and diplomatic missions plus the headquarters of important international organizations including the African Union (AU) and the United Nations Economic Commission for Africa (UNECA). A growing number of international standard hotels like Hilton, Sheraton, Radisson, Golden Tulip, Marriott and Ramada an ever-improving infrastructure, a hub airport and world-class conference venues at the AU, the UNECA and the Millennium Hall, make Addis Ababa a destination of choice for meetings, conferences and exhibitions.
Abundant and Trainable Workforce
Ethiopia has a large young population. As the tourism industry develops so does the number of training centers offering tourism studies. Currently there are over 50 TVET centers countrywide offering vocational training in tourism as well as several universities offering tourism management degrees. Higher education in Ethiopia is in English.
Competitive Incentive Packages for Investors