HARARE, March 31 (Xinhua) -- Zimbabwe on Thursday launched its first National Tourism Satellite Account (TSA), designed to measure the size and contribution of the sector to the economy, after getting technical assistance from the International Finance Corporation and the World Tourism Organization.
According to the TSA, Zimbabwe's tourism sector accounted for 4.25 percent of the national Gross Domestic Product (GDP) with a value of 1.03 billion U.S. dollars in 2018.
In 2019, the sector accounted for 6.3 percent of GDP with a value of 1.23 billion dollars.
The data also shows that tourism accounted for 1.56 percent of national employment levels in 2018, with around 100,000 jobs supported and created.
The findings are based on the last available pre-COVID-19 data and on data gathered before the formal transition of national currency from the U.S. dollar into the Zimbabwean dollar in 2018.
According to the TSA, Zimbabwe's tourism sector has been badly affected by the COVID-19 pandemic, following the introduction of travel restrictions and lower demand from tourists, resulting in the loss to the national economy estimated at 690 million U.S. dollars.
Zimbabwe's Environment, Climate, Tourism and Hospitality Industry Minister Mangaliso Ndlovu said the country was pleased to have the TSA.
"This inaugural TSA is most welcome by the sector and the nation at large as a tool to guide decision-making and support evidence-based policy formulation, for a sustainable and resilient tourism sector," Ndlovu said.
"It provides us with critical information of the sector's contribution to the economy in terms of expenditure and employment and is therefore critical to policy formulation. More importantly, this data will help us with an important benchmark to use in measuring the tourism impact during and after the COVID-19 era," he added.
He said domestic tourism remains low in Zimbabwe and that there is need for sustained efforts to improve it.
IFC country manager Adamou Labara said by addressing information gaps and supporting a data-driven approach to policy development and investment decisions, the TSA should prove particularly relevant to Zimbabwe's tourism sector as it recovers and grows back from the impact of the COVID-19 pandemic.
"Tourism has long been a critical driver of Zimbabwe's economy and the country boasts many magnificent sights that attract visitors from around the world," he said. ■