Why It's Right Time to Invest in Ethiopian Hotel Industry
By Eden Sahle
Growing the number of hotels is part of the plan to make Ethiopia one of the top five tourist destination in Africa
While the Ethiopian economy continue enjoying double digit growth, the hospitality sector is poised for further growth in the wake of increased number of inbound travelers into the country with expected opening of the AU Grand Hotel, Pullmann, Crowne Plaza, Wyndham Hotel Group, Crowne Plaza, Accor Group and Best Western.
Being the third largest diplomatic community in the world, following New York and Geneva, Addis Ababa has become home to several new star hotels. Conferences in the African Union and the United Nations Economic Commission for Africa have increased the demand for brand hotels bringing a huge chunk of foreign currency to the tourism economy. The city is home to the world's third highest concentration of embassies bringing the majority of the diplomatic missions into the country. Large global bases for NGO's, embassies and aid agencies also created massive market for the hotels.