Diplomatist Special Report - Tanzania Tanzania 2018 | Page 37

T
he United Republic of Tanzania is the largest country
in the eastern Africa region with an extension of
945,000 km, which includes the mainland and the
Zanzibar islands. With an average annual growth rate of 6.9
percent during the period from
2010 to 2014, Tanzania is one of
the fastest growing economies in
Eastern Africa.
The economy has demonstrated
resilience in the face of a
weakening global economy.
Sound macroeconomic policies,
market-oriented reforms, and
debt relief have ensured a positive
environment for the country’s
steady economic growth. The
main contributors to the growing
Tanzanian economy are agriculture,
tourism, and mining. Other key
industries include construction,
transport and oil and gas.
Tanzania is endowed with
diverse renewable energy
resources, ranging from biomass
and hydropower to solar and wind which have the potential to
ensure reliable availability of power for the country’s overall
economic development. It can contribute in moving the country
closer to achieving middle-income status, as envisioned in the
Tanzania National Development Vision 2025.
Tourism potential
Tanzania is the 7th most visited country in Sub-Saharan
Africa after South Africa, Zimbabwe, Mozambique, Uganda,
Kenya, and Namibia. The country has bountiful natural
resources, including extensive
tracts of wilderness. They include
the plains of Serengeti National
Park, a safari mecca populated
by the “big fi ve” game (elephant,
lion, leopard, buffalo, rhino), and
Kilimanjaro National Park, home
to Africa’s highest mountain.
The prime tourist attractions
include Mount Kilimanjaro,
Zanzibar’s historic Stone Town,
the Olduvai Gorge archaeological
site and clean white sand beaches
fringed by palm trees.
Since 2012, tourism has been
the leading sector in terms of
foreign exchange earnings and
the 3rd largest recipient of FDI
after mining and manufacturing.
According to the Ministry of
Natural Resources and Tourism of Tanzania, “in the fi nancial
year 2016-17, the tourism sector contributed to 17.5 percent
of Tanzania’s GDP and 25 percent of its foreign currency
earnings. Tourist arrivals reached 1,284,279 in 2016 versus
1,137,182 tourists in 2015, with an increase of 12.9 percent.
Currently, Tanzania is
Africa’s fourth-largest gold
producer, with the segment
generating export earnings
of $1.27bn in 2015.
Majority of the country's
mineral export revenue
comes from gold.
Mount Kilimanjaro
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