Madagascar's potential revealed to investors during the International Forum for Investments in Tourism and Malagasy Transport "Wave Madagascar" held 17 to the 20 September. By revealing Madagascar's potential, several proponent projects and investment incentives were exposed.
The President's Word
The President of the Republic of Madagascar presented his visions and ambitions to all stakeholders, including national and international project owners and investors.. "Tourism is one of the major levers to make Madagascar an emerging country. With its 5,000km of coastline, much of which is still deserted, its network of 43 protected areas and its endemicity rate of more than 80%, The Greater Island has all the assets to boost the sector. We are ready to implement all necessary measures to attract investors", Does he say.
Analysis and objectives
The past decade has been marked by a major turbulence in the tourism sector. Environmental insecurity, socio-political instability have contributed to its stagnation. The Grande-Island is currently home to 290.000 tourists a year when its neighbor, Mauritius, gets some 1.500.000. "Competing with 7% GDP with 46.000 jobs generated and 586 million euros in annual revenue, our goal will be to increase the sector's economic contribution 15% GDP by reaching the 500.000 tourists, Generating 79.000 jobs and 1 billion euros in revenue for 2023", said Joel Randriamandranto, Minister of Transport, tourism and meteorology.
In the context of calls to investors and to reassure them, The State is committed to strengthening the legal framework governing the sector and facilitating administrative procedures to raise Madagascar's potential revealed to investors.
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