Tourism Development Fund predicted to generate over GH¢19m by close of 2023

The Fund Administrator for the Tourism Development Fund (TDF), Mr. Prince Yaw Essah, has announced that the fund is targeting GH¢19.6 million in revenue for 2023.

According to him, the establishment of the Fund in 2012 has been performing well and supporting the tourism industry amid the economic challenges currently in the country.

“In 2021 we budgeted for GH¢15.1 million and we did GH¢15.18 million. In 2022, we budgeted for GHc16.95 million and as of the end of August, we have been able to achieve GHc14.9 million. Indicating that we have about 2 million to go for the year 2022.”

“Looking at our average collection, it hovers around GH¢1.7 million. So, all things being equal the remaining four months left we are looking at the range of a little over GH¢6 million. So, if we do GHc6 million that is taking an average of 1.5 million per month for the remaining four months we should be able to do GHc20.9 million for 2022,” Mr. Essah stated.

Records from the Secretariat of the TDF show that the payment levy has so far accumulated an amount of GH¢11 million in 2017, GH¢16 million in 2018, and GH¢18 million in 2019 with a fall in 2020 at GH¢10.5 million due to the COVID-19 pandemic.

The Fund Administrator added that over 4000 organizations have been contributing to the Fund with a few in operation although some have not yet been authorized to operate due to their reluctancy in acquiring licenses and certificates.

However, Mr. Essah noted that for the Fund to reach its target, monitoring and evaluation should be intensified in the industry.

“The tourism establishment always wants us to go after them before they comply and going after them is very expensive. With monitoring, we need to get strong vehicles to be able to monitor. Cost of fuel, and maintenance, among others, also make it difficult to go to every part of the country to do monitoring to make sure they pay.” Mr. Essah said.

Mr. Essah also mentioned that some organizations in the sector have failed to use their credentials when they make payments to the Fund. He added that hotels, guest houses, serviced apartments, hostels, lodges, restaurants, traditional catering establishments (chop bars), drinking bars, travel, and tour agencies, and car rentals among others are establishments obligated to make payments into the Fund.

He further expressed his appreciation to all establishments in the industry who have been paying into the Fund and assured them that the revenue would be used to support the industry and, admonished establishments who are operating without authorization and certification to do so to contribute to the Fund to increase development in the country.

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