Investments Opportunities Comesa Tourism Raju Jaddoo

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Investment Opportunities in COMESA Region: Tourism Sector

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Investments Opportunities Comesa Tourism Raju Jaddoo

  1. 1. www.investmauritius.com Investment Opportunities in COMESA Region: Tourism Sector Exploring the Mauritian Case & Potential for the COMESA Region Mr Raju Jaddoo, Managing Director, Board of Investment November 2008
  2. 2. www.investmauritius.com Agenda Mauritius: Economic Development, Investments & Tourism New Developments in Hospitality industry: Anahita Case study Country Endowments: A powerful COMESA Region offering Challenges for regional tourism development Way forward – Investments, Growth & Hospitality 2
  3. 3. www.investmauritius.com Mauritius Development & Tourism Tourism Facts & Figures GDP Market Year Hotel Tourist Price (US$ M) 2000: ITES/BPO & Freeport 6,000 1970 20 30,000 1990s: India DTA & Global Business 1980 43 100,000 1980s: Hospitality: 100,000 tourists 1990 88 400,000 1980s: EPZ Textile boom 2,200 1970s: Sugar Protocol 2006 103 800,000 2007 102 906,971 400 1975 1980 1985 1990 1995 2000 2005 Tourism Expenditure Bilingual Competitive Talents 1990: USD 350 – 400 Million p.a Democracy Political Stability 2005: USD 1.5 Billion p.a 3
  4. 4. www.investmauritius.com Adjusting to External Shocks Ripple effect of Oil Downward Shock pressure on real GDP growth 35 Sugar Protocol preferential price 30 US$ 519/T in 2008 25 U S cts/ Poun d End of preferential 20 GDP (US$ M) 15 Sugar Protocol 10 World sugar price 5 0 70 75 80 85 90 95 0 5 6 8 1200 1000 EPZ Exports (US$ M) Competition on 800 Textile exports 600 400 (China) 200 1975 1980 1985 1990 1995 2000 2005 0 1976 1980 1985 1990 1995 2000 2005 4
  5. 5. The Mauritian Economic Transition www.investmauritius.com Post 2006 Downward pressure on real GDP growth GDP Market 8,600* Price (US$ M) Reforms to bring growth on track: Ease of doing business Broadening circle of opportunities in the Hospitality Industry: IRS, Medical Tourism,… 2006 2008 1975 1980 1985 1990 1995 2000 2005 Source: Historical Series -National Accounts_CSO (* estimates) 5
  6. 6. www.investmauritius.com Integrated Resort Scheme Using Recurrent Clients and Mauritian Brand Name to broaden the Hospitality base Integrating the Hotel and Villa concept into beachfront properties: leasehold land for hotels and freehold land for villas Integration of IRS villa owners into the Mauritian landscape, resilience to the current difficult credit market situation 6
  7. 7. New Developments in Hospitality www.investmauritius.com industry Case Study: Anahita World Class Sanctuary 7
  8. 8. www.investmauritius.com Overview Anahita World Class Sanctuary project: Development of a luxury Four Seasons Resort 45 world class luxurious Four Seasons branded villas 325 luxury private residences comprising of 70 waterfront residences, 200 estate villas, 15 golf villas and 40 golf lodges and An 18-hole, par 72 championship Ernie Els signature golf course. The development is being carried out over 213 ha of land with a unique 6 km sea frontage. 8
  9. 9. www.investmauritius.com Goals Investment: MUR 15 Billion Expected Job Creation: 1500 long term jobs Corporate Social Responsibility MUR 66 Million (approx. USD 2M) Employability: Educate unemployed Youth Development Programmes Special school for Disabled Children Rehabilitation of socially marginaised ‘Street’ Children Economic empowerment Assistance for setting up new small enterprises Environment Protection 9
  10. 10. www.investmauritius.com Delivery Project Project Project Identification Structuring Implementation IRS Certificate issued Phase 1 & Phase 2 Different permits, in 2005 by BOI implemented licenses & clearances obtained in 2006 facilitated by BOI Phase 3 launched in Nov 2008 Anahita Fishermen Solidarity Fund as Phase 4 to be compensation for the initiated in 2009 fishermen The Anahita Case Study: A Win / Win Equation 10
  11. 11. Country Endowments www.investmauritius.com Mauritius Mauritius, a remote location within the Indian Ocean Sea Frontage: 177 km From remote to Exclusive From Sun, Sand & Sea to an Emotional Experience Branding Mauritius: Holistic approach to hospitality, investment & trade Soft Assets People Multilingualism & Cultural compatibility Ease of doing business / reforms Safety & Political Stability Infrastructure … 11
  12. 12. Country Endowments www.investmauritius.com COMESA Region Sea Frontage: A total of approx. 13,993 km Extraordinary Array of Stunning Natural Resources: Natural Park Desert Mountains Safaris Deep Sea Vantage Points: Cross selling opportunities: Crowd Pullers (Kenya Safari / Egypt, …) & New Explorations Large number of flagship hotel brands present in the region: Hilton, Sheraton, Inter-Continental, Four Seasons, Taj, Movenpick,, Oberoi, … 12
  13. 13. COMESA Region www.investmauritius.com Egypt & Historical Tourism One of the most tourist attractive countries in Africa, attracting millions of tourists a year. In 2007, Egypt attracted about 9.8 million tourists. The country is strong in Pyramids, Desert and Beaches 13 13
  14. 14. COMESA Region www.investmauritius.com Kenya & Safaris Masai Mara Game Park Dubbed one of the 7 New wonders of the world, the annual Migration is a natural cycle that replenishes and renews the grasslands of East Africa. Around 1.3 million Wildbeast migrate 14
  15. 15. COMESA Region www.investmauritius.com Uganda & Eco-Tourism Tourism – 9.2 % of GDP Unique untapped potential – ecotourism, bird life Snow capped Ruwenzori mountains – most challenging of African mountains by hikers Queen Elizabeth National Park - 100 mammals species and more than 600 bird species 15
  16. 16. COMESA Region www.investmauritius.com Madagascar & Endemic Species Tourism - 7.8% GDP Contribution 80% of UNIQUE endemic flora and fauna species Madagascar is a world leader in the development and implementation of environmental best-practice Ambition to become leader in high-quality ecotourism in Sub- Saharan Africa & Indian Ocean 16
  17. 17. COMESA Region www.investmauritius.com Projecting Tourist Growth COMESA tourism in 2004/2005: Approx. 17.7 M tourists visited the region Tourism industry contribution: USD 9,855 M Projections 2015? Linear v/s Exponential Things as usual v/s Paradigm Shift Vantage Points: Mauritius will double its number of tourists to 2 million p.a by 2015. Investments in infrastructure, airport facilities, branding… 17
  18. 18. COMESA Region www.investmauritius.com Key Challenges Improve security for visitors Improve existing infrastructure & facilities Improve air connections: inter–COMESA & target markets Increase market awareness of the regional product & diversify offerings (cross-selling opportunities) Broaden circle of opportunities: IRS / Medical Tourism / … Improve Doing Business in COMESA (DB World Bank Survey) Increase inter-regional investments: low compared to non- COMESA FDI 18
  19. 19. www.investmauritius.com Opportunities From World Cup 2010 One million tourists expected in South Africa for the 2010 World Cup to be held from 11 June to 11 July 2010 Opportunities for COMESA countries: Devising special packages for Tourists & World Cup Fan Base Taking advantage of global media attention to promote tourism Positioning COMESA countries over the long-term on the world tourist map 19
  20. 20. www.investmauritius.com Concluding remarks Benefits of a thriving tourist industry for COMESA region Increase GDP/ Income per capita Increase job creation Increase investment Broaden / build economic base Concluding Remarks: The COMESA region has highly desirable and unique offerings The region has investors in the form of the most renowned international hotel chains There are new opportunities in the Hospitality industry Cross-selling & market awareness will get us forward A paradigm change in the way we look at Hospitality in the COMESA region can result in exponential GROWTH 20
  21. 21. www.investmauritius.com Thank you www.investmauritius.com contact@investmauritius.com 21

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