Rising Star
Zanzibar is rapidly positioning itself as a key destination for tourism and investment, reminiscent of the Maldives two decades ago.
The island has witnessed a surge in tourism, supported by an increase in luxury accommodations and improved airline connectivity.
On the investment front, Zanzibar's appealing tax incentives and focus on sustainable initiatives invite comparisons to the early growth stages of the Maldives.
This strategic approach positions Zanzibar as a lucrative opportunity for both immediate and long-term investments (UNDP).
Growing Economy
Over the past five years, Zanzibar's economy has demonstrated significant growth, driven by a robust increase in its tourism sector and strategic investments in infrastructure and sustainability.
Investment in Zanzibar has also been on the rise, with the government implementing favourable policies such as tax breaks and grants to attract foreign investors. These measures have spurred developments in various sectors including hospitality, real estate, and the burgeoning blue economy, which focuses on sustainable use of ocean resources (UNDP).
Growing Tourism
Over the last decade, Zanzibar's tourism sector has experienced remarkable growth.
A decade ago, Zanzibar was primarily a niche destination, known for its pristine beaches and historical Stone Town. However, significant enhancements in airline connectivity and the establishment of numerous high-end accommodations have broadened its appeal dramatically.
From 2013 to 2023, the number of tourists visiting Zanzibar nearly doubled. By 2023, Zanzibar celebrated a milestone, with tourist arrivals approaching the one-million mark, a considerable increase from about half a million in the early 2010s.
