By Jane Chanda
Economist Kelvin Chisanga says increased local participation is crucial for Zambia’s economic growth, to avoid capital flight from the country.
As the country recorded a 25.6 percent surge in tourist arrivals, Chisanga cautioned that relying solely on foreign investment and tourism may lead to capital flight and widening of the trade deficit.
Speaking to Daily Revelation in an interview yesterday, Chisanga said the nation’s economic growth depended on local Zambians’ participation in the economy.
“We need to ensure that the economic benefits of tourism are shared equitably among all Zambians, not just a privileged few,” Chisanga said.
He emphasized that local participation was crucial to sustainable economic growth and avoiding the pitfalls of dollar-driven tourism.
While political stability, policy consistency, and infrastructure development had attracted investors, Chisanga said local entrepreneurs were key to creating jobs and driving economic growth.
“We must prioritise local empowerment and sustainable development to ensure that Zambia’s economic growth is inclusive and benefits all citizens,” he said. “The future of Zambia’s economic growth lies in its ability to balance foreign investment with local empowerment, ensuring that the benefits of growth are shared by all.”
