Cover of The Report: Tanzania 2018

The Report: Tanzania 2018

One of East Africa’s largest economies and most popular tourist destinations, Tanzania is reputed for its stability in the region. Its extractive wealth, favourable climate for agriculture, and natural assets such as Mount Kilimanjaro and the Serengeti National Park have helped it build a relatively high rate of growth over the last decade, averaging 6-7% per year.

Tanzania has historically been an attractive centre for trade due to its strategic location along the continent’s east coast. Today, the country is seen as one of Africa’s most dynamic and diverse markets, and although its economy remains highly dependent on agricultural output, the development of tourism and the discovery of natural gas in recent years should help offset the country’s dependence on its primary sector. In 2017 the government formulated its second budget, which forms part of a longer-term strategy of attaining middle-income status by the middle of the next decade. This transformation is to be brought about through a mixture of industrialisation and human development.

 

OBG & Tanzania