Despite the global pandemic, Ivory Coast has been able to raise 5.8 billion euros ($6.4 billion) for the proposed development of its tourism sector.

With the money raised, the Ivorian government plans to renovate certain emblematic buildings, build many hotels on the coast and inland, several wildlife, water and amusement parks, a marina in Abidjan, etc.

According to Ivory Coast’s Tourism Minister Siandou Fofana, the government has also signed 12 memorandums of understanding with several companies and only last month, it had raised $5 billion in pledges during a roadshow in Dubai.

The government said in a statement that it hoped to raise an additional $1 billion in a similar drive show in Hamburg.

This investment will make it possible to give a boost to this sector that is capable of sufficiently developing the country. Its goal is to become ” the 5th destination in Africa and the 3rd  business pole in the country” according to the minister.

Tourism In Ivory Coast

Popular with tourists for its golden beaches, fading French colonial heritage and traditional Senufo cultural experiences, Ivory Coast has seen its annual visitor numbers rise steadily in recent years – 250,000 in 2010 up to 1.44m in 2015. 

Over the years, Ivory Coast has generated around 566.00 million US Dollars in the tourism sector alone. This corresponds to 0.97 percent of its gross domestic product and approximately 10 percent of all international tourism receipts in Western Africa.

With 0.080 tourists per resident, Ivory Coast ranked 157th in the world. In Western Africa, it ranked 5th.

The Economy of Ivory Coast

In 2019, The World Bank named Ivory Coast the largest economy in the West African Economic and Monetary Union.

Ivory Coast is the world’s top exporter of cocoa and raw cashew nuts. It is also a net exporter of oil and has a significant manufacturing sector.

The country can also boast of having a high potential for growth as real per capita GDP has been able to grow by 41% in the seven years to 2019 (IMF, 2019).

This investment will make it possible to give a boost to this sector that is capable of sufficiently developing the country. Its goal is to become ” the 5th destination in Africa and the 3rd  business pole in the country” according to the minister.

The government also hopes that tourism would effectively push the economy to be better by 2025.