Tourism investors shift investment focus — Minister Rwodzi

TOURISM and Hospitality Industry Minister Barbara Rwodzi has said tourism investors have shifted focus to place emphasis on impact on their investments in the tourism sector.

Globally, Environmental Social Governance (ESG) is now gaining traction as it has become an increasingly important part of the investment process.

Investors are increasingly applying these non-financial factors as part of their analysis process to identify material risks and growth opportunities.

ESG metrics are not commonly part of mandatory financial reporting, though companies are increasingly making disclosures in their annual report or in a standalone sustainability report.

Posting on her X handle, Minister Rwodzi who is attending the 25th UNWTO General Assembly that kicked off yesterday in the Samarkand Ancient city of Uzbekistan said Zimbabwe is a member state invited to attend the World Tourism Sector.

“We are a Member of the Tourism and Sustainability Committee and a Voluntary member in the Committee on Green Investment and Environment. Due to what the new investors are focusing on nowadays besides return on investments, it’s now the impact of their money on the Tourism and Hospitality industry.”

She added, “Today we had an unofficial side meeting for all African countries here present in preparations for the Assembly meetings starting tomorrow.

“The agenda was to edge up on how to speak with one voice as a Continent and support each other on issues related to Africa that cuts across positions in the Executive Council which South Africa, Mozambique, Zambia and Cape Verde are current members to be seconded in the Executive Council by Africa Member States.

“Human resources at UNWTO headquarters has 89 positions and only eight are occupied by Africans.”

She said 2015 Tourism Investments Projects are going into Europe and others and only 119 projects are in Africa.

“What are the Statutes around the issue of budget contributions towards UNWTO operations and the General Assembly that give Europe leverage to be the largest contributor and hence the largest recipient of jobs as well as Tourism Investments?”-chronicle