Tourism, exports top 2012

The tourism and export sectors have registered strong performance in this year’s private sector performance index with optimism that the country is on track to achieve the middle income status by 2020.Tourism receipts jumped to US$252 million this year, up from US$227 million last year. This is above this year’s projected revenue receipts of US$ 244 million. Exports fetched US$429 million this year, up from US$305 million.“For all these indicators we have been above our targets for the last fiscal year, and this has been quite a positive performance,” François Kanimba, the Minister of Trade and Industry, said during the joint sector review meeting yesterday, where the performance report was unveiled.According to the report, the country also registered progress in investor perception index, growing to 74.4 per cent, compared to last year’s 72.2 per cent whilst percentages of investment to Growth Domestic Product (GDP) rose to 25 per cent, up from 22 per cent.“In terms of general economic performance in delivering key common performance assessment indicators, the outcomes we have seen here are impressive,” he said.According to the report, 32 percent of exports were realised outside the country’s main exports of tea, coffee and minerals, which is above 18 percent realised last year, with informal cross border trade bouncing in with a US$70 million extra. Again, the milling industry, hides and skins, pyrethrum were seen as high performers in the export sector with each contributing US$ 10.5 million,US$9.4 million, US$ 5.8 million respectively.“First, we must note that all targets have been achieved and this is the most important thing,” Jolke Oppewal, Head of Cooperation and Deputy Ambassador of the Kingdom of the Netherlands said.Despite the performance, several policy actions that have not been implemented in time as agreed last year such as development of a onvention bureau to promote MICE (Meetings, Incentives, Conferences, Exhibitions) tourism, cultural village.However, the minister said the delays in some of the actions were due to some of the implementing institutions setting high expectations beyond their capacity which led to delays of some key actions agreed upon.“I can’t say that there has been a lot of improvement, but what is clear is that all the actions that were in the pipeline are in the process of implementation,” he added. “It is a question of time”.Experts are optimistic that with the economy still dynamic and growing, the performance indicators are bound to create a positive growth outlook for the country.

National

Tourism, exports top 2012