Stakeholders have stated that harnessing Foreign Direct Investment in the hospitality industry can lead to a 400 per cent increase in revenue within six months. In an exclusive interview with The PUNCH, the Chief Executive Officer of Landmark Group, Paul Onwuanibe, asserted that a 400 per cent increase in Foreign Direct Investment was achievable in the sector. He said, “While Foreign Direct Investment stands as a readily accessible opportunity, the resilience of the hospitality industry, which requires comparatively minimal infrastructure and offers cost-effective employment, has shielded it from severe impacts. From an FDI standpoint, with a concerted effort and commitment, there exists significant potential to amplify FDI by 300-400 per cent within six months. For instance, the beach resort, developed in just nine months, has become a popular tourist destination, contributing to revenue generation.

Source: Punch January 15, 2024 03:25 UTC