On Day Two of the 6th Uganda Economic Forum, tourism emerged as a central pillar for Uganda’s ambitious Tenfold Strategy, which aims to grow the country’s GDP from $50 billion to $500 billion by 2040.
Private sector leaders in Uganda’s tourism industry emphasized that the country’s rich natural and cultural endowments could propel the economy into a new growth trajectory—if government and stakeholders addressed critical constraints.
Key proposals included targeted tax incentives to reduce operational costs, stronger global marketing strategies, and innovative financing models to unlock private investment in the sector.
“We cannot talk about tenfold growth without putting tourism at the center of our economic planning. Uganda has the product, but what we need is an enabling environment to make it thrive,” said Byamugisha, a leading private sector representative.
The National Planning Authority highlighted tourism in the current National Development Plan (NDP4) for its multiplier effect, noting a 24% return per unit cost, significantly higher than other sectors.
However, private players insist that achieving the Tenfold Strategy’s USD 500 billion target requires more funding, aggressive marketing, and adjustments to the current tax regime to attract substantial private investment.
Currently, Uganda invests approximately 316 billion shillings directly in tourism and another 1.89 trillion shillings indirectly into supporting sectors such as transport.
The Ministry of Tourism remains confident that these targets are achievable with the right policy framework.
Unesco, however, cautioned that the government must conserve and upgrade more heritage sites to attract international attention and niche tourists, further bolstering the sector’s growth potential.
With consensus emerging on tourism as a blueprint for economic transformation, forum participants concluded that bold reforms and deliberate investment will determine whether Uganda’s Tenfold dream moves from aspiration to reality.
