Zimbabwe International Trade Fair 2023 Boosts Economy and Fosters Innovation

The Zimbabwe International Trade Fair 2023 was a resounding success, boosting the local economy, fostering innovation, and attracting exhibitors from 26 countries. The event's vibrant ecosystem generated positive ripple effects across various sectors, underscoring Zimbabwe's growing appeal as a trade and investment hub.

Olalekan Adigun
New Update
Zimbabwe International Trade Fair 2023 Boosts Economy and Fosters Innovation

Zimbabwe International Trade Fair 2023 Boosts Economy and Fosters Innovation

The Zimbabwe International Trade Fair (ZITF) 2023, held in Bulawayo from April 23-27, has been hailed as a significant event that boosted the local economy and fostered innovation and trade. According to ZITF Company board chairman Busisa Moyo, the trade fair served as a "vibrant economic ecosystem" that extended beyond its immediate scope, creating positive ripple effects for various sectors in the city.

The event saw a 35% increase in exhibition uptake compared to the previous year, with a total of 766 exhibitors, including 471 direct exhibitors and 295 indirect exhibitors. The exhibition showcased a wide range of companies and organizations focusing on innovation, digitalization, green technologies, and inclusive development. The trade fair also featured exhibitors from 26 countries, an increase of 6 countries compared to the previous year.

Moyo emphasized the economic benefits of the ZITF, stating, "The trade fair is more than just a show, it is an economic ecosystem that benefits the entire city and the country." The event generated increased business for hotels, lodges, food outlets, and the transport sector, demonstrating its far-reaching impact on various industries.

The ZITF 2023 also saw a 3.4% increase in space uptake, with 47,822 square meters occupied. The event attracted 8,124 registered business visitors, up from 7,934 in the prior year. The innovators forum experienced increased participation as well, with 130 attendees on the first day and 143 on the second day.

Why this matters: The success of the Zimbabwe International Trade Fair 2023 highlights the importance of such events in stimulating economic growth and promoting innovation. The increased participation and diversity of exhibitors demonstrate the growing interest in Zimbabwe as a hub for trade and investment.

Moyo stated that the ZITF team will be working on compiling customer feedback to ensure an even more successful trade show in 2024. The event's success has also been attributed to the forward-thinking industrialization policies and innovative business approaches of Zimbabwe's "Second Republic," which have contributed to increased trade between Zimbabwe and neighboring countries like Botswana.

Key Takeaways

  • ZITF 2023 in Bulawayo boosted local economy, fostered innovation and trade.
  • Exhibition uptake increased by 35% with 766 exhibitors from 26 countries.
  • ZITF generated increased business for hotels, food, and transport sectors.
  • Space uptake increased by 3.4% and attracted 8,124 registered business visitors.
  • ZITF's success attributed to Zimbabwe's industrialization policies and trade with neighbors.