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Business Tourism Increase in Wallonia

Written by: Editor

Business-Tourism-Increase-in-Wallonia.jpgWallonia’s Tourism Minister recently stated in an interview that the region is keen on developing its business tourism sector, which represents approximately 14 percent of the total tourism reservations. Tourism is among the top five investment sectors in Wallonia and Government officials believe that there is room for improvement in the Meetings, Incentives, Conventions and Exhibitions Sector. One of the experts at our Belgian law firm can give you more details on the conditions for foreign investments in this field. 

Tourism in Wallonia

 
Wallonia intends to develop the Meetings, Incentives, Conventions, and Exhibitions (MICE) Sector, Tourism Minister Renè Collin declared. The aim is to increase the overnight stays from the current 600,000 to approximately 800,000 by 2023.
 
The business tourism sector in Wallonia has made a significant recovery in recent years, having an approximate annual growth of 5.7 percent. Today, it accounts for about 8% of the total tourism revenue in the region. Walloon officials have been promoting the MICE sector by assigning 1.5 million dollars for the promotion of the business tourism.
 
The French-speaking region record some 7.5 million overnight stays every year, attracting approximately ten million tourists. The sector is one of the top five in the region, amounting to 6% of the GDP.
 
Our lawyers in Belgium can give you details on the conditions for investing in tourism in Wallonia. 
 

Invest in Wallonia

 
Foreign investment in Wallonia revolves around a number of key business sectors. ICT, agriculture, chemistry, technology, and tourism are the top five FDI recipient sectors, with foreign investors coming from countries like France, the United States or the Netherlands. 
 
Investors in Belgium who want to open a tourism business find Wallonia attractive because of its cultural heritage, the gastronomy and many opportunities for leisure activities, from sports to nature walk.
 
If you want to know more about the laws on investment in the country please do not hesitate to contact our Belgian law firm.
 
 

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