Botswana Market Report
development would increase by more than 33 per cent in the 2024/25 fiscal year. S&P Global estimates that the expansionary budget will increase the fiscal deficit in that year but anticipates that the government will aim to reduce the deficit in its budgets for the following years.
TOURISM Tourism represents the second largest activity in Botswana in terms of the GDP, after mining. In 1990 Botswana implemented a Tourism Policy aiming to increase tourist numbers, government revenue, and employment opportunities. Te policy focused on attracting up-market international tourists from Europe, North America, Australia, and New Zealand to increase revenue. Today Botswana is one of the prime wildlife safari destinations in Africa. According to the latest official figures tourism contributed 13.1 per cent of Botswana’s GDP in 2019, increasing from 6.3 per cent in 2000. But there are opportunities for future growth es- pecially as the government is committed to growing the sector as part of its economic diversification strategy. Part of this strategy is aimed at expanding tourism so that it encompasses the mid-range market as well. When it comes to jobs by 2019 the travel and tourism accounted for 8.9 per cent of total em- ployment in the country. Te country is not only popular with South African visitors
but also American, German and UK travellers. Tourism arrivals data shared by Statistics Botswana, show that the top three overseas countries accounted for 61.5 per cent of the top ten overseas countries, these being the United States with 26.6 per cent, Germany, 17.6 per cent and the UK with 17.3 per cent.
THE GAMBLING ACT Te Gambling Act, which had been approved by lawmakers in 2012, finally came into force on 1st April 2016. Before that time the gambling industry in Botswana had been regulated under the Casino Act (1971) and Lotteries and Betting Acts (1966). Te new regulations were intended to protect the interests of
individual gamblers while also ensuring that the government generated the maximum possible revenues from the industry. Te law greatly expanded the scope of permitted gambling activities and established the Botswana Gambling Authority to regulate the industry effectively and to bring Botswana's gambling regulations in line with contemporary standards and practices.
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Government type: Parliamentary Republic Chief of State: President Mokgweetsi Eric Keabetswe Masisi (since 1 April 2018) Elections: President indirectly elected by the National Assembly for a 5-year term. Unicameral Parliament consists of the National Assembly (63 seats; 57 members directly elected in single-seat constituencies by simple majority vote, four nominated by the president and indirectly elected by simple majority vote by the rest of the National Assembly, and two ex-officio members - the president and attorney general; elected members serve 5-year terms). Also the House of Chiefs (Ntlo ya Dikgosi), an advisory body to the National Assembly, consists of 35 members - eight hereditary chiefs from Botswana’s principal tribes, 22 indirectly elected by the chiefs, and 5 appointed by the president; the House of Chiefs consults on issues including powers of chiefs, customary courts, customary law, tribal property, and constitutional amendments. Unemployment: 23% Tourism: 1.2 million
Te country is not only popular with South African visitors but also American, German and UK travellers. Tourism arrivals data shared by Statistics Botswana, show that the top three overseas countries accounted for 61.5 per cent of the top ten overseas countries, these being the United States with 26.6 per cent, Germany, 17.6 per cent and the UK with 17.3 per cent.
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