One avenue that Ghana is raking in billions of revenue in recent years is the tourism sector despite dramatic fluctuations.
Latest 2024 Ghana Tourism report reveals that the tourism sector is showing steady recovery; however, while the data reveals that receipts continue to rise, the rate of growth is beginning to slow.
The report indicates that revenue from inbound tourists reached $4.82 billion in 2024, up from $3.81 billion in 2023. That represents a 27% increase, a positive but noticeably slower climb compared to the 51.9% jump recorded in 2023.
The Trend of Extremes
The data cited by The High Street Journal reveals a rollercoaster trend. In 2019, Ghana earned $3.31 billion from international tourists. Then came the COVID-19 crash. By 2020, receipts plummeted by a staggering 88.3% to just $387 million.
A strong rebound began in 2021, with revenues more than doubling to $803 million, followed by an explosive 212.2% surge in 2022, reaching $2.5 billion.
2023 saw continued growth, recording a 51.9% growth to hit $3.8 billion. Although the revenue further increase in 2024 to hit $4.82 billion, which is the highest post-pandemic level, the rate of increase is down to 27% from 51.9% in 2023.
The Promising Climb
While the 27% growth in 2024 may appear modest compared to the triple-digit jumps of previous years, analysts say it’s a sign that Ghana’s tourism recovery is normalising after the sharp declines and rebounds of the pandemic years.
Some analysts believe what we’re seeing now is a more realistic and sustainable growth trend, arguing that it is unrealistic for the country to record 200% growth every year.
The 2024 performance, they say, is strong and signals deeper market stability.
The slowdown also reflects the maturing of the recovery phase, where the industry is no longer simply bouncing back, but rather building forward, with a focus on quality tourism, longer stays, and higher-spending visitors.
“The year 2024 has been one of consolidation and renewed growth in the tourism, arts, and culture ecosystem. With the ongoing implementation of flagship initiatives such as Beyond the Return and other activities like the Kwahu Easter Paragliding Festival and the Emancipation Celebration. Ghana continues to affirm its position as a leading destination for heritage tourism, cultural exchange, and investment in Africa,” Minister for Tourism, Dzifa Abla Gomashie, confirmed.
What This Means for Ghana
Ghana’s rising tourism receipts translate directly into stronger foreign exchange inflows, more jobs in the hospitality sector, and increased revenue for local businesses and government. With global travel patterns normalising, Ghana’s brand as a Pan-African heritage destination, bolstered by initiatives like Beyond the Return, continues to attract interest.
However, experts caution that sustaining growth will now depend on improved infrastructure, visa reforms, digital marketing, and upgraded tourist experiences to remain competitive on the global stage.
