We want to make investments to showcase the beauty, culture and depth of the African continent that are aligned in a community centric model.
The World Travel & Tourism Council estimates that 3.8m jobs (including 2.4m indirect jobs) could be created by the tourism industry in Sub-Saharan Africa over the next 10 years. Visitor expenditures can have a ‘flow-through’ or catalytic effect in terms of production and employment creation. But even before the visitors even show up, it creates jobs due to the construction phase of tourist accommodation and services. It generates a demand for transport, telecoms and financial services.
It also generates demand for agriculture, fisheries, food processing, and light manufacturing products, as well as handicrafts and the goods and services of the informal sector. Expenditures in these sectors are at last half of expenditures in tourist accommodation. This is particularly relevant in an economy whose only development options are its cultural and natural resources.
But this only is beneficial when tourists are of the ‘right type’, that is, we are looking for tourists that want be immersed in the local community, learn from it, and for tourists that are looking to experience the beauty of the African environment, with a high degree of awareness of the responsibilities of the tourist as an external actor in an ecosystem that they must not damage.
Pharo Ventures tourism is committed to only invest in tourism businesses that fulfill these requirements, whilst creating sustainable value and jobs.
