Togo Tourism
Togo Tourism
Togo is a small country on the coast of West Africa located between Ghana and Benin. The majority of the population relies on subsistence agriculture. Coffee, cotton, and cocoa are the major export crops, while phosphate exports are the largest source of foreign exchange. The capital, Lomé, was once the bustling hub of an economy buoyed by tourism, banking, and transportation services for its land-locked and coastal neighbors. This position has eroded in recent years both because of Togo's own political and economic difficulties and competition from its progressively liberalizing neighbors.
Near term prospects are for modest economic growth and restrained inflation. These projections depend heavily on consolidation and advancement of both economic structural adjustment and political liberalization. Togo's limited domestic market is of little interest to the foreign investor. However, the country's traditional role as a transshipment point to neighboring countries and the proximity of the massive Nigerian market, make Togo an attractive base for investments aimed at the Central and West African region. Expatriate living conditions are comfortable, although the political instability of the last several years has been accompanied by a rise in the crime rate.
Best trade prospects for U.S. business include donor-financed development projects, including multilateral financing from the World Bank, the African Development Bank, and the African Development Bank. Should Togo's privatization programs again pick up steam, they may offer opportunities in areas from agricultural processing to telecommunications. New investment in energy and mining are high priorities for Togo.
Togo Tourism
