Posted on

Forbes Ranks Ghana Eleventh Friendliest Nation in The World

Ghana has been adjudged the eleventh friendliest country in the world, making it one of the most preferred tourism destinations around the globe. Ghana was the only African country that was ranked high in a survey undertaken by Forbes, a reputable international magazine.

The survey which was done in consultation with a cross-section of world travelers in 2010, found that Ghana is one of the “most welcome nations.” Thailand came first, followed by Columbia, which was said to have very pleasant citizens and was a preferred destination, in spite of the perception of a centre of drug cartel operations.

Australia took the third place, while Costa Rica, Canada, Greece and India, captured the fourth, fifth, sixth and seventh spots respectively. The United States was adjudged the eighth friendliest nation, followed by Turkey in the ninth position, new Zealand, tenth, Ghana eleventh, Fiji twelfth and Vietnam in 13th position. Reasons attributed to Ghana’s ranking include the fact that tourism in Ghana is “driven by natural history, colourful festivals, historic sites and the hospitable people”.

Unlike in many other African countries, Ghana’s different ethnic groups live side by side in relative harmony. “This sub-Saharan African county is renowned for its hospitability, friendliness, tolerance and patience,” the Forbes survey said of Ghana.

The survey, which was published early this month, said the achievement of Columbia was as a result of a national drive to promote its tourism potentials towards increasing tourist inflows. By so doing, the survey said, the nation desired to do change world’s own perception of itself.

The Ministry of Tourism, reacting to the outcome of the survey, said government was excited. “We are excited but government will not be carried away by our ranking,” James Agyenim Boateng, Deputy Minister of Tourism told the Times in Accra. Meanwhile, Ghana has improved in the latest rankings of the world’s favourite tourism destinations, moving two places up.

According to the latest travel and tourism index of the World Economic Forum, the country moved from 110 in 2009 to 108 in 2010 among the 139 countries surveyed. The movement is an endorsement of efforts by government to improve the sector, currently the fourth highest earner of foreign exchange.

The ranking was based on three main indicators, the regulatory framework covering the travel and tourism industry, business environment and infrastructure, and human, cultural and natural resources. In Africa, Ghana was ranked 10th after countries like South Africa, Mauritius, Kenya, Rwanda and Cape Verde.

Ghana performed a little better in the various sub-categories. Of the 139 countries, its regulatory framework was ranked 108th, the business environment and infrastructure was ranked105th whilst its’ human, cultural and natural resources was ranked 104th. Switzerland remains the most favoured tourism destination in the world.

Share
Posted on

Good Growth Expected in Sub-Saharan Africa

[ad#amazon_120x240]Growth in sub-Saharan Africa may exceed growth in all other regions except developing Asia, the International Monetary Fund said.

“growth in sub-Saharan Africa — projected at 5.5 percent in 2011 and 5.75 percent in 2012 — is expected to exceed growth in all other regions except developing Asia,” according to a world economic outlook update released by the IMF.

“This reflects sustained strength in domestic demand in many of the region’s economies, as well as rising global demand for commodities.”

The release of the report took place in Johannesburg because South Africa is seen as a key emerging market economy, and is a member of the IMF and G20, said Caroline Atkinson, director of external relations at the IMF.

The fund was also taking “updates outside Washington to represent the global nature of our work”, she added.

The pace of recovery varied across the sub-Saharan region.

Growth was now close to the pre-financial crisis high in the low-income countries of sub-Saharan Africa. These countries had grown by over six percent prior to the financial crisis and were expected to grow by 6.5 percent in 2011.

“The recovery in South Africa and its neighbours, however, has been more subdued, reflecting the more severe impact of the collapse in world trade and elevated unemployment levels that are proving difficult to reduce.”

The IMF predicted growth of 3.5 percent for South Africa in 2011. This was almost in line with the SA Reserve Bank’s forecast of 3.4 percent growth in gross domestic product for 2011.

South Africa’s forecast growth is below the average of other emerging and developing economies, which were expected to grow by 6.5 percent in 2011, according to the IMF.

“… during the recent crisis South Africa’s financial system fared relatively well,” said José Viñals, financial counsellor and director of the IMF’s monetary and capital markets department.

Risks to the economy remained, because of the influence of the country’s major trading partner, Europe.

“The pace of recovery in Europe, the dominant trade partner for most non-oil-exporting countries in sub-Saharan Africa, is modest and uncertain.”

The IMF warned the “sharp pickup” in fuel and food prices could have a significant impact on non-oil-exporting countries in the region.

“Rising food prices are likely to affect the urban poor in particular, given the high share of food in their consumption baskets.”

Countries would have to counter this with social grants or “social safety nets” which they would have to find funds for.

Global financial conditions broadly improved in the latter half of 2010, although there were still “lingering vulnerabilities”.

Countries should also remain alert about inflation as there was pressure from rising commodity prices.

Olivier Blanchard, economic counsellor and director of the IMF’s research department, told the briefing that global economic recovery continued at two speeds — a slower rate for advanced economies and a much faster growth rate for emerging economies.

This could lead to “tensions and risks” which need strong policy responses, he said.

“With emerging markets now accounting for almost 40 percent of global consumption and more than two-thirds of global growth, a slowdown in these economies would deal a serious blow to the global recovery — and to the rebalancing that needs to take place,” the IMF warned.

Share