By A. Kapini
Côte d’Ivoire has received a big boost in tourism investment with memoranda of understanding (MOUs) for a total of $15 billion to support projects in the francophone West African country.
The boost came ahead of the United Nations World Tourism Organization (UNWTO) Forum for Africa, which took place in Abidjan, the country’s capital city, on 20-22 February, and the Forum de l’Investissement Hotelier Africain (FIHA), which will occur in Abidjan on 23-25 March.
Ivorian international soccer star Didier Drogba helped his country to garner the commitments. In a press release issued by Bench Events in Abidjan on 25 February, it was stated that the former Chelsea striker – and now UN world tourism ambassador – was part of a successful global push to promote the rising success and attractiveness of Côte d’Ivoire’s tourist economy.
The country boasts a GDP growth rate of about 8% in 2019, and as a destination, it is in the third place in Sub-Saharan Africa, with two million international visitors, behind South Africa and Zimbabwe, ahead of Uganda, Botswana, Kenya or Mauritius, according to UNWTO 2018 data.
Extraordinary and impressive effort
Matthew Weihs, Managing Director of Bench Events, which organises FIHA, said: “This is an extraordinary and impressive effort by Côte d’Ivoire; and it makes this year’s Forum particularly interesting because the funding commitments are in place and the task now is to make projects happen.” Last year’s successful FIHA in Marrakech, Morocco, attracted 300 delegates from 28 countries.
Under the banner of ‘Sublime Côte d’Ivoire,’ Drogba was a key player in a team of top Ivorian business and political leaders and showbusiness figures who took a roadshow to Dubai, United Arab Emirates (UAE), and Hamburg, Germany. They returned with over $15 billion of funding commitments for a variety of tourism projects, including hotels, resorts and coastline development. All the financial backers have been invited to attend FIHA.
Philippe Doizelet, Managing Partner of Horwath HTL, the world’s largest and most experienced hospitality consultants, has been guiding Côte d’Ivoire’s efforts. Doizelet said: “It’s a blank page that the industry can write on in the most exciting way. Much has to be built – hotels alongside cultural centres and conference facilities, among other things. The amazing coastline offers great ‘bleisure’ [a mix of business and leisure] opportunities. Beyond Abidjan; Boulay island, Bassam and Jacqueville are currently the most promising locations.”
‘Mixed-use’ projects
He sees the greatest potential in ‘mixed-use’ projects, combining leisure, office and retail units with hospitality, in particular, branded 2-star and 3-star hotels and extended stay apartments.
Leading the country’s ambition to make tourism one of the main pillars of the economy is Tourism Minister Siandou Fofana who Doizelet described as “visionary and deeply committed. He works hard to bring people together and attracts the best experts.”
Weihs concluded: “FIHA and its affiliated event, the Africa Hotel Investment Forum, are central to driving investments in regional hotel and mixed-use projects. The events connect key international and regional stakeholders, private and institutional investors to the hotel developers and operators that are fuelling the growth of the hotel industry across the continent.
“The projects that are promoted and funded at FIHA drive investments in tourism, stimulate economic growth in regional markets, create jobs and encourage much needed infrastructure.”
Premier hotel investment
FIHA is the premier hotel investment conference in Francophone Africa which attracts many prominent international hotel owners, investors, financiers, management companies and their advisers. It is organised by Bench Events which has a track record of delivering high-level networking and thought leadership conferences for hospitality investment and aviation in Europe, the Middle East, Africa, Asia and Latin America.
The sponsors and partners of FIHA include: Accor, Amandla Capital, Insignia, Marriott, STR, Louvre Hotels Group and Mangalis Hotel Group. SB Architects, STM Electromech, Magespro, IT Hospitality, JLL, work4stars, In Extenso, Horwath HTL, Agora and Oger International.
Horwath HTL has 45 offices around the globe. Founded in in New York, U.S. in 1915, it has been providing impartial, specialist advice to its clients for over 100 years and is recognized as the market leader in all areas of hotel, tourism and leisure consulting. As the founders and original authors of the Uniform System of Accounts, the industry standard for hospitality accounting, Horwath HTL wrote the book on how the industry measures financial performance in hotels.
