Why Landmark’s CEO is betting big on Nigeria’s N5 trillion local tourism
In an exclusive interview with Nairametrics, Landmark Africa CEO, Paul Onwuanibe, discussed the forces driving this transformation, the scale of Nigeria’s domestic tourism market and the opportunities emerging across the country’s real estate, hospitality and tourism sectors. The post Why Landmark’s CEO is betting big on Nigeria’s N5 trillion local tourism appeared first on Nairametrics .
Nigeria's tourism, real estate, and hospitality sectors are evolving to cater to consumers seeking diverse experiences, beyond traditional properties and accommodations. Landmark Africa CEO, Paul Onwuanibe, explains how this shift is influencing the development and operation of integrated destinations that blend residential, hospitality, leisure, retail, entertainment, and technology elements in a single ecosystem.
He emphasizes the growing importance of domestic tourism, with Nigerians spending about N4.95 trillion domestically in 2024, ten times the N491.9 billion spent by international visitors. Landmark Africa's approach involves creating interconnected destinations that generate multiple revenue streams, such as residential sales, hospitality services, events, food and beverage, retail, entertainment, leisure, and commercial activities.
The company also employs phased development, allowing for early cash flow generation and iterative improvements based on market feedback. Financing these projects requires a balanced approach, combining equity, debt, partnerships, and capital, with risk allocation between public and private partners.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
