Zimbabwe’s tourism sector is emerging as a major investment frontier, with the industry attracting approximately US$132 million in investment during the first half of 2026, as the Government intensifies efforts to unlock opportunities in key tourism destinations.
Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, said the strong investment inflows reflected growing confidence in the sector among domestic and international investors, including pension funds, institutional investors and major hospitality groups.
He was speaking during the second day of the Sanganai/Hlanganani/Dzimbahwe Tourism Expo in Masvingo, where the Tourism Investment Forum brought together Government officials, tourism operators, investors and other stakeholders to explore opportunities for sustainable growth.
Prof Ncube said tourism had already attracted more than US$1 billion during the National Development Strategy 1 period from 2021 to 2025, with investment continuing to rise.
“The tourism sector alone attracted more than US$1 billion in investments during the NDS 2021-2025 period, and the momentum is continuing.
“Tourism investment increased from approximately US$190.5 million in 2024 to US$194.5 million in 2025, and in the first half of 2026 alone, Zimbabwe recorded approximately US$132 million in tourism investments. In the first quarter of 2026, tourism investment increased by an extraordinary 438%,” he said.
The minister said increased participation by institutional investors was particularly encouraging, describing the development as a strong indication of confidence in Zimbabwe’s tourism and hospitality industry.
“The strongest signal today is the insatiable appetite and growing participation and funding from pension funds, institutional investors, local companies, and international hospitality groups,” Prof Ncube said.
He noted that pension and institutional funds, including ZESA Pension Fund, Government Pension Fund, Old Mutual and NRZ Pension Fund, were increasingly investing in tourism and hospitality assets.
“Today, we have approximately US$50 million worth of Hotel Infrastructure projects at various stages of development, which are all set to be completed by 2030,” he said.
Prof Ncube identified Victoria Falls and Masvingo as strategic investment destinations, urging investors to look beyond conventional tourism products and develop integrated destinations.
He highlighted the 1 200-hectare Masuwe Special Economic Zone in Victoria Falls, including the 271.5-hectare Lot 1 of Jafuta Estate, as a major opportunity for hotels, villas, holiday homes, commercial facilities, medical services and a golf estate.
He said Masuwe should be developed as an integrated tourism investment platform capable of attracting capital, creating employment and expanding Victoria Falls’ contribution to the national tourism economy.
In Masvingo, Prof Ncube identified Tugwi-Mukosi as another major investment opportunity, saying the area had potential for hospitality, recreation, leisure, water-based tourism, residential development and events.
Tourism and Hospitality Industry Minister, Barbra Rwodzi, said infrastructure development around major attractions remained critical to unlocking the sector’s full potential.
“We believe we have got several tourism products that we think can grow our tourism sector; however, there is a need to put up infrastructure around those attractions which can attract more visitors,” she said.
She called for investment around Gonarezhou, Lake Mutirikwi, Tugwi-Mukosi and Zaka.
Foreign Affairs and International Trade Minister, Professor Amon Murwira, said targeted Memoranda of Understanding were also helping to strengthen tourism, trade and investment cooperation by facilitating travel and building investor confidence.
The second day of the expo focused heavily on business-to-business engagements, with exhibitors connecting with potential buyers, partners and investors, while the gastronomy and SME sections showcased Zimbabwean cuisine and locally produced goods.
The Tourism Investment Forum underscored the need for sustained investment, infrastructure development and strategic partnerships to transform Zimbabwe’s tourism potential into increased visitor arrivals, employment and economic growth.
