Unemployment rate in Gambia has recently registered an all - time high of 9.50 percent and the liquidation of the tour operator is expected to increase the figures.
The tourism sector is vital to The Gambia's economy and creates some 150,000 jobs either directly or indirectly which is about 19 per cent of the country’s total employment, according to a 2017 report by the World Travel and Tourism Council. The population of the Gambia is mainly young with more than half (about 63.55% of two million) is below 25 years with a dependency ratio of 92.3. Most employees in this sector come from the youth cadre of the population and form a lion share of the unemployment percentage. Youths have called on the authorities to consider their plight since the announcement of the collapse of Thomas Cook. The news has come at a terrible time for the country, but it may open avenues for other tour operators doing business locally within the sub-region and even some potential Gambian investors. This area of the economy has a monopoly of foreign investors and scenarios of such would pose serious threats to the economy, the people and the country.
34
Business & FInance
Business & FInance
Thomas Cook's Collapse