The confluence of the tourism and energy sectors offers a special chance for sustainable growth throughout the MSGBC region (Mauritania, Senegal, The Gambia, Guinea-Bissau, and Guinea-Conakry).
The Gambia is leveraging tourism earnings to support energy initiatives, while Senegal uses energy developments to promote infrastructural growth and tourism. Senegal’s tourism business is thriving thanks to the growth of the country’s energy sector.
The nation is accelerating the growth and rehabilitation of potential tourist sites through infrastructure and energy projects. One of these initiatives is the Sandiara Special Economic Zone (SEZ), a gas-to-power and solar plant that would likely power popular tourist destinations along the nation’s southern coast.
One such place is Mbodiene, a fishing community in the Thies region that is about 20 kilometers from the SEZ. The CEO of LFR Energy, a well-known real estate and energy company building the gas-to-power facility in the SEZ, Pierre Diouf, envisions Mbodiene becoming a significant tourist destination.
“The real estate project will consist of two 4- and 5-star hotels with 500 rooms, 200 villas, a shopping center, and an amusement park. We are currently in the first phase of development,” explained Diouf, adding that, “Our objective is to contribute to the creation of a new economic hub in the Thies region and, of course, to develop tourism in Senegal.”
This is really one illustration of the numerous tourist destinations that Senegal’s energy breakthroughs could bring about. At the moment, tourism is the nation’s second-largest source of foreign exchange earnings and is a key factor in the expansion and development of infrastructure.
The country’s tourism industry is expected to experience unprecedented growth as a result of the integration of energy infrastructure as the country’s electrification, industrialization, and revenue generation expand as a result of the first oil and gas production anticipated from the Sangomar and Greater Tortue Ahmeyim fields this year.
The Gambia has an opposite strategy from Senegal, which concentrates on using its energy sector to drive real estate and tourism growth. The tourism industry is a key component of this semi-enclave nation’s economy because Senegal is its neighbor. Tourism is an important factor in The Gambia’s success, contributing 20% of the GDP and employing 19% of the population. To assist the diversification and climate resilience of the nation’s tourist sector, the World Bank has granted a $68 million grant from the International Development Association (IDA).
The nation’s commitment to tourism-driven development can be seen in its initiatives to create institutional and legal frameworks, increase access to capital for businesses engaged in the tourism industry, develop distant areas, and promote coastal sustainability. The country’s tourism industry offers potential for energy investment in addition to economic advantages.
The Gambia wants to use the money made from tourism to fund energy initiatives that will enhance the nation’s infrastructure and further its overall development. The nation’s energy sector is currently undergoing significant change, with measures to improve electricity supply, the utility firm NAWEC being reformed, as well as an increasing emphasis on frontier oil exploration. The Gambia, a largely unexplored energy market, needs substantial funding to build out its energy infrastructure, explore new basins, and fortify its domestic economy.
As a result, its tourism sector can be used to help raise the money needed to encourage energy breakthroughs. Future gatherings like the MSGBC Oil, Gas & Power 2023 conference, which will be held in Nouakchott on November 21–22, offer a great chance to attract additional investment in Senegal and The Gambia’s tourism and energy sectors.