Saturday, March 15, 2025

Leveraging tourism development as a key driver of growth

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Some tourist sites in Ghana Some tourist sites in Ghana

Revitalising the Accra Marine Drive Investment Project – an initiative designed to establish an iconic skyline and transform the capital into a world-class tourism enclave, has received government commitment.

The Marine Drive is a 241-acre redevelopment scheme of Accra’s waterfront initiated by the Ministry of Tourism – the origins of which are traced back to the country’s independence over 60 years ago.

Valued at US$1.2billion, the project when completed will provide essential infrastructure to support the country’s developing cultural and creative industries. President John Dramani Mahama disclosed this when delivering his first State of the Nation Address on March 1, 2025.

Although Cabinet approved the vital project in 2016, progress on work had stalled under the previous administration. In 2017, former President Akufo-Addo cut sod to commence the Project in a Public-Private Partnership initiative.

However, actual construction – which is designed to create some 150,000 jobs to drive economic growth – is yet to start.

The project features a blend of cultural and modern elements, with a centrepiece theme park dedicated to Ghana’s founding fathers, the Big Six. The development will also include hotels, cultural villages, shopping malls and recreational centres.

The project aligns with government’s overarching strategy to transform the tourism, arts and culture sectors. Stakeholders are very optimistic about the project’s ability to redefine Accra’s coastline, create vast economic opportunities and elevate Ghana’s global tourism appeal.

Consequently, the commitment expressed by President Mahama underscores renewed hope for the project’s commencement. Tourism is a proven catalyst for sustainable economic growth: it is one of the fastest-growing industries globally, contributing significantly to GDP, employment and foreign exchange earnings in many economies.

There is therefore little reason why Ghana cannot tap into this huge revenue-booster since raising adequate revenue has been one of the country’s nemeses.

It is unfortunate that at the recently concluded 2-day National Economic Dialogue, the final communiqué failed to make any concrete recommendations on leveraging tourism development as a key driver of sustainable jobs and economic growth.

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