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GHC 15, 498, 860.78 million accrued into the tourism development fund Featured

Written by  Nov 24, 2015
The Government of Ghana through the Ministry of Tourism, Culture and Creative Arts established the Tourism Development Fund in the year 2012. The objective of the 15 year National Tourism Development plan (2013-2027) is to help stimulate economic development, provide funding for tourism and tourism-related projects and programmes, create job opportunities, and promote environmental conservation, national cohesion and above all economic growth to improve upon the living conditions of Ghanaians. Since its inception in October 2012, the fund has accrued a total of GHC 15, 498, 860.78 million. The sector minister, Hon. Elizabeth Ofosu-Adjare in an address to parliament today said the total amount was generated from the 3, 081 accommodation and catering establishment certified under the tourism development fund. According to the minister, the collection of 1% levy by the certified enterprises and remittances helped in the accrued amount as at October 31st, 2015. A total of GHC 185 667.76 was collected in the year 2012 while in 2013 an amount of GHC 3,019, 585.13 million  and in 2014 amount of GHC 7, 127, 968.69 million. Hon. Ofosu-Adjare said the plan had been prepared  with aim of positioning tourism in the national development agenda as well as achieving the core objectives of the Ghana shared growth and agenda 2. The Tourism ACT 817 established the Tourism Development Fund (TDF) from which we have LI.2185 (Tourism Levy Regulation). This was done to support the development of the industry and to ensure that the quality of services provided meet acceptable standards. The object of the fund by the law is to provide funding for tourism and tourism-related projects and programmes and in achieving this aim, revenue from the fund are applied to activities including marketing and promotion of tourism, capacity building, market research and development of tourism infrastructure, development and promotion of other entrepreneurial activities, tourism export trade-oriented activities of institutions, and tourism education and training. After progressive registration of accommodation and catering establishment through stakeholder consultation on the 1% levy in October 2012, a total of 2, 664 accommodation facilities were registered while a total of 417  catering establishments registered onto the platform for the levy collection into the fund.      

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