Ethiopia to host investment forum as Africa earns Sh2.2b from event
A continental tourism lobby group has in the last eight years facilitated the tourism sector generate some US$21.24 million (Sh2.2 billion) on the local host economies.
Africa Hotel Investment Forum (AHIF) has also helped to create or sustain 6,000 jobs and generate US$1.4 million (Sh146 million) in tax to the governments of the host countries. “When AHIF returns to Addis Ababa, Ethiopia in September this year, it could bring over $1.5 million (Sh156 million) in direct benefit to the economy,” says Martin Jansen van Vuuren of Futureneer Advisors.
He says this assessment is based on recent research of attendees at AHIF and a study on the economic impact of previous editions of the conference. AHIF held the first conference in Casablanca, Morocco in 2011 and last year alone facilitated around US$2.8 billion (Sh29 billion) of investment in the hospitality sector across Africa, he says.
The hotel investment conference in Africa will take place in Addis Ababa, Ethiopia from September 23rd to 25th.
Prominent international hotel owners, investors, financiers and management firms are expected at the meeting.
Matthew Weihs, Managing Director of Bench Events, which organises AHIF, says serious investors with money behind them have confirmed attendance.
“The hospitality industry in Africa is rapidly becoming more mature and sophisticated,” he says.
Among the 600 delegates will be senior figures from the Marriott, Hilton, AccorHotels and Radisson Hotel groups, while speakers include influencers from the global hotels investment industry.
Last year’s conference was held in Nairobi while Kigali, Rwanda hosted the event in 2017 and 2016. Lome, Togo was the event’s venue in 2016 after Addis Ababa hosted the event in 2014 and 2015. The latest edition of AHIF is predicted to be the biggest