Tanzania: A Prime Destination for Business
- The Trade Adviser
- Feb 16, 2023
- 1 min read
Updated: Jun 1
Overview
Tanzania is a thriving East African nation with a growing economy, strategic location, and abundant resources. Businesses looking to expand into Africa will find Tanzania a lucrative opportunity due to its robust market, infrastructure development, and pro-business policies.
Key Statistics
Population: 65 million (2024 estimate), with a median age of 18. Tanzania has a youthful and dynamic workforce.
GDP Growth: 5.2% in 2023, making it one of the fastest-growing economies in Sub-Saharan Africa.
Urbanization Rate: 34.5%, with major cities like Dar es Salaam experiencing rapid growth.
Foreign Direct Investment (FDI): $1.1 billion in 2023, primarily in manufacturing, agriculture, and energy.
