News / National
Zimbabwe loses millions in tourism revenue leakages
06 Feb 2014 at 10:32hrs | Views
The Zimbabwe Tourism Authority has undertaken to reduce tourism revenue leakages following revelations that Zimbabwe might have lost millions of dollars through under declarations.
ZTA Chief Operating Officer Givemore Chidzidzi said the regulatory authority with the support of government has taken it upon itself to immediately address the problem.
Government is also working on the national satellite accounting system which is set to improve transparency through easy monitoring of earnings.
"The chapter of leakages should come and go. We are concerned as authorities and as the regulatory authority we are fully addressing the issue because we know government is working hard to implement the tourism satellite accounting system," said Mr Chidzidzi.
The national satellite accounting system is a web-based application for recording tourism data and enables non-consumptive operators to submit monthly returns to the Reserve Bank of Zimbabwe.
Figures by the Ministry of Tourism and Hospitality Industry indicate that of the 2,4 million tourists estimated to have visited Zimbabwe by the close of 2013, US$851 million was realised as revenue while other countries like Tanzania receipted US$1 billion during the same period from 1 million arrivals.
While Zimbabwe realised a 17 percent growth from the 1,8 million tourists recorded in 2012, records show that local hotels still posted occupancy rates below 60 percent.
In her presentation of the monetary policy statement, the Acting Reserve Bank of Zimbabwe Governor, Dr Charity Dhliwayo gave tourism operators an ultimatum to submit tourism receipts amid concern there were rampant leakages of revenue in the sector.
ZTA Chief Operating Officer Givemore Chidzidzi said the regulatory authority with the support of government has taken it upon itself to immediately address the problem.
Government is also working on the national satellite accounting system which is set to improve transparency through easy monitoring of earnings.
"The chapter of leakages should come and go. We are concerned as authorities and as the regulatory authority we are fully addressing the issue because we know government is working hard to implement the tourism satellite accounting system," said Mr Chidzidzi.
The national satellite accounting system is a web-based application for recording tourism data and enables non-consumptive operators to submit monthly returns to the Reserve Bank of Zimbabwe.
Figures by the Ministry of Tourism and Hospitality Industry indicate that of the 2,4 million tourists estimated to have visited Zimbabwe by the close of 2013, US$851 million was realised as revenue while other countries like Tanzania receipted US$1 billion during the same period from 1 million arrivals.
While Zimbabwe realised a 17 percent growth from the 1,8 million tourists recorded in 2012, records show that local hotels still posted occupancy rates below 60 percent.
In her presentation of the monetary policy statement, the Acting Reserve Bank of Zimbabwe Governor, Dr Charity Dhliwayo gave tourism operators an ultimatum to submit tourism receipts amid concern there were rampant leakages of revenue in the sector.
Source - ZBC
