Deputy Finance Minister Dr. Stephen Amoah has emphasised the importance of leveraging domestic tourism to stabilise the depreciating cedi.
He is thus urging stakeholders in the tourism industry to prioritise local tourism initiatives as a strategic approach to address currency devaluation.
He was speaking during the GIPC Quarter 2 CEOs Breakfast Meeting in Accra, and highlighted the significance of the tourism sector.
- Dr. Amoah noted that the tourism sector ranks among the top four sectors contributing to foreign exchange inflows in Ghana and that encouraging stakeholders to focus on domestic tourism is a potential to boost economic growth and stability within the country.
Dr. Amoah underscored the need for homegrown policies tailored to address Ghana’s specific economic needs.
He urged policymakers and industry players to collaborate in developing strategies that promote local tourism and drive economic development.
“One thing I have seen about Africa is that we have a lot of ideas but sometimes the global models control us too much. We need to build homegrown policy tools that specifically address our needs. So we need to do all these things and make sure that we all repent…let’s begin to show that high level of patronage and keep the money here.”
“We always talk about cedi, cedi, if we change dollars and go there why won’t the cedi suffer? But if you stay here the dollar people come, they will demand our currency. As a country, we have everything at our disposal to develop tourism because God has given us. God has endowed us,” he stated.
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