Antony Chawagarira
MASVINGO — Zimbabwe has challenged investors to move beyond simply admiring the country’s tourism potential and to invest in bankable projects capable of creating jobs, expanding infrastructure, and driving the country towards a US$10 billion tourism economy by 2030.
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube said tourism investment was critical to transforming Zimbabwe’s world-class attractions into tangible economic value.
Prof Ncube was representing Vice-President Dr Constantino Chiwenga, who was Guest of Honour, at the Tourism Investment Promotion Forum held during the 19th Sanganai/Hlanganani/Dzimbahwe World Tourism Expo in Masvingo.
“Investment is emerging as the bridge between Zimbabwe’s world-class tourism assets and the economic value they can generate,” Prof Ncube said.
He said Zimbabwe’s tourism industry was showing strong signs of recovery and expansion, with at least 792,000 domestic and international tourist arrivals recorded during the first half of 2026.
Tourism receipts rose by six percent, from US$508 million to US$537 million, while domestic tourism trips increased by 27 percent, from about five million to 6.4 million.
The sector attracted more than US$1 billion during the National Development Strategy 2021–2025 period, with investments rising from US$190.5 million in 2024 to US$194.5 million in 2025.
About US$132 million was recorded during the first half of 2026, including a 438 percent increase in investments during the first quarter.
“Tourism is a strategic pillar of Vision 2030,” Prof Ncube said, adding that the priority was now to ensure that increased demand and investor interest translated into “bankable projects, jobs and sustainable growth”.
Tourism and Hospitality Industry Minister Barbara Rwodzi said the country could no longer afford to leave tourism opportunities at the identification stage.
“The investment drive must move beyond identifying opportunities to packaging credible, investor-ready tourism projects,” she said.
Minister Rwodzi placed particular emphasis on local authorities and rural district councils, which she said have a critical role to play in packaging viable projects for investors.
Zimbabwe remains underinvested in hotels, international hospitality brands, and conferencing facilities, despite growing demand.
“We are targeting a US$10 billion tourism economy by 2030,” Minister Rwodzi said.
The country already has a hotel investment pipeline estimated at US$500 million, with pension funds and other institutional investors increasingly investing in the tourism sector.
The Public Service Commission Pension Fund is investing in the Monomotapa Hotel and Ruparara Valley Lodge, while the Unified Councils Pension Fund and Mining Industry Pension Fund are pursuing a four-star hotel in Victoria Falls.
Global hospitality brands including Accor, Grand Hyatt, Four Seasons, Radisson Blu and Hilton are also expanding their footprints in Zimbabwe.
Prof Ncube said Victoria Falls remained one of the country’s major investment magnets, with the 1,200-hectare Masuwe Special Economic Zone offering opportunities ranging from hotels and villas to holiday homes, commercial facilities, medical services and a golf estate.
He said Masvingo’s Tugwi-Mukosi also had potential to become a major integrated tourism destination.
“Tugwi-Mukosi presents scope for an integrated tourism destination combining hospitality, recreation, leisure, water-based tourism, residential development and events,” Prof Ncube said.
The development of Tugwi-Mukosi is expected to complement Masvingo’s broader tourism offering and strengthen the province’s position as a major tourism and investment destination.
Harare is also witnessing a major expansion of accommodation infrastructure, with 2,593 hotel rooms under construction, 2,402 at the tender or financial-closure stage, and another 2,000 rooms earmarked for greenfield developments.
The projects could increase the capital’s hotel inventory from 11,854 to 18,849 rooms, improving its capacity to host major international events such as the Intra-African Trade Fair in 2029.
Prof Ncube called for increased participation by pension funds, banks, development finance institutions, private equity firms and international investors in financing tourism infrastructure.
“We need patient capital to unlock these opportunities,” he said.
He said innovative financing instruments, including Real Estate Investment Trusts, could help bridge the funding gap.
The proposed 111-key, US$33 million Novotel development was cited as an example of how innovative financing could be deployed to expand Zimbabwe’s hospitality infrastructure.
Meanwhile, Foreign Affairs and International Trade Minister Professor Amon Murwira said Zimbabwe’s diplomatic missions were being transformed into engines for economic diplomacy.
“Our Embassies and Consulates must become transaction-oriented economic hubs,” Prof Murwira said.
He said Zimbabwe’s diplomatic network should actively identify investors, markets and partnerships capable of supporting the country’s tourism ambitions.
Prof Murwira also urged Zimbabwe to make greater use of its Diaspora, which he described as an important source of investment, expertise and international market access.
“The Diaspora can be direct investors, co-creators of tourism ventures and global ambassadors who connect Zimbabwe to international expertise, hospitality networks and capital,” he said.
He said digital platforms and Artificial Intelligence were also creating new opportunities for Zimbabwe to promote its tourism products and connect with global markets.
The forum came as Zimbabwe seeks to turn rising tourist arrivals and growing investor interest into actual developments that benefit the economy and communities.
The message emerging from the gathering was clear: Zimbabwe has the attractions, tourism demand, and investment opportunities, but the next phase requires the country to package those opportunities effectively and secure the capital needed to turn plans into functioning hotels, resorts, conference centres, leisure facilities, and other tourism businesses.
For Zimbabwe, the race towards the US$10 billion tourism economy by 2030 will therefore depend not only on attracting visitors, but on attracting investment capable of transforming the country’s tourism potential into lasting economic value.
