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Turn Your Farm Into Tourism Hotspot

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In other parts of the world, Rural and Agri-tourism have remarkably increased into importance for many world’s economies- and Rwanda may also want to take a shot at it.

Agritourism, as a form of individual relaxation, satisfies the needs of various groups of the middle class.

At the end of March, Rwanda Development Board organised a two-day training on the development of agro-based tourism products with industry stakeholders in a bid to diversify the sector’s product offerings.

For Rwandans that may have vast land on which to conduct agriculture activities, can embrace this new cluster of agri-tourism and develop required products.

The products and services assigned to Real agri-tourism can comprise of five groups including; observation of agricultural production process, including plant production, animal production and some processing, including guided or individual farm (ranch) tours.

They also include; real participation in the process of plant production, animal production and processing (e.g. help in cow milking, hay making, etc.), animal demonstrations or shows, including cow milking, sheep shearing, angora rabbit shearing, stock selling, on-farm signed walking trails; direct contact with domestic animals or the nature of farms in different kinds of petting-zoo or safaris.

On March 31, RDB organised a training on development of agro-based tourism products with industry stakeholders to diversify the sector’s product offerings.

Rural and agri-catering businesses (gastronomy)

Rural and agri-catering are an integral part of agri-tourism. Tourist staying temporarily or periodically in a farm have to buy at least some meals.

They can buy their meals in restaurants, make their own meals or buy catering services offered by agri- -tourism farms or other rural tourism enterprises.

There is a great variety of agri-catering services in agri-tourism and rural tourism, however there only three groups are distinguished within that cluster.

The variety is connected with source of food products, number and time of meals, places of serving meals.

Foods products may come partly from an agri-tourism farm own production or fully be purchased outside the farm.

Serving own food products farms can increase their income. One can divide meals in various ways and by three criteria; for example, by the time of serving meals (breakfast, lunch, dinner, tea, supper), by the place of served meals (in the dinning room or in the kitchen, outside home, in restaurants, etc.), or by feeding patterns (regional kitchen, national kitchen, every-day meals and holiday meals, etc.).

The idea of rural and agri-tourism lies in varieties that make the meals very special and different from the meals served by other agri-tourism farms. Each meal may be identified as an individual variant of an agri-tourism product. The unlimited possibility of meals’ differentiation causes the farms can be different from each other.

Children enjoy a tractor ride on the farm. Such an experience would be more relaxing and memorable

Rural and agri-accommodation services

Distinguishing of the rural and agri accommodation cluster is justified by its specific nature. All services and products of the cluster can be divided into six groups.

Rural and agri-accommodation services comprise various kinds of accommodation in rural areas. Homestead accommodation, including farm-stays, country-stays, rural home- -stays, and rural B&B seem to be the most common and the most tied with countryside and rurality.

These accommodation categories are quite specific for rural and agritourism, however the differences between them are very slight.

B&B in usual is an “umbrella term” for variety of hosted accommodation that includes a bed for the night and a breakfast in the morning. There are also some specific for agri-tourism forms of accommodation, e.g. sleeping on the hay, camping barns or bunkhouses.

With this literature on hand, Rwandan entrepreneurs may begin looking at farming as an opportunity for tourism and thus be able to convince financiers just in case they want hit the road.

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Business

Most Expensive Home in America To Be Auctioned

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The One mansion of the largest private homes ever built, with a colossal 105,00sq ft of living space will go to the highest bidder tonight during a public auction.

Once valued at $500 million, The One mansion in Bel-Air is being sold for $295 million and will be on the open market until it is auctioned off by Concierge Auctions, an online auction marketplace, from February 28 to March 3.

The home will be sold without reserve, meaning it will sell to the highest bidder. Even if it sells close to the price it’s listed at, it will surely break records.

Currently, billionaire and hedge fund tycoon Ken Griffin’s $238 million New York penthouse in 2019 holds the record as the most expensive U.S. home ever sold.

Developed by Nile Niami, the massive estate took more than 10 years to build and created massive debt for Niami. His development company, Crestlloyd, filed for bankruptcy last year, forcing the home to careen towards auction as part of the bankruptcy proceedings.

However, the home still has about 12 more months of work. The buyer will have to put down nearly $340,000 as a deposit.

The Los Angeles home is one of the largest ever built, and is twice the size of the White House. It spans 105,000 square feet and the property sprawls over 3.8 acres.

Outdoor features include a moat of water on three sides of the home, five pools, a 10,000-square-foot deck and a 400-foot outdoor running track.

The home is more like a personal, private resort than a single-family home. There are a whopping 21 bedrooms, 42 full bathrooms and seven half bathrooms.

Despite its grandiose nature, there is a pared-down, neutral color palette throughout and calming water features.

Within the home, there are custom-curated artworks from artists Mike Fields, Stephen Wilson and glass artist Simoe Cenedese, to name a few. Soaring, 26-foot ceilings make the home feel even larger than it is (if that’s possible), and rooms are oversized and expansive.

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Business

Rwanda-Uganda Full Trading Resumes

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Full trading between Rwanda and Uganda is scheduled to resume on Monday January 31st following Kigali announcement that it had opened locks on its borders shut in March 2019.

“Rwanda has taken note that there is a process to solve issues raised by Rwanda, as well as commitments made by the government of Uganda to address remaining obstacles,” Kigali said in the statement.

Since the border closure Rwanda and Uganda recorded a significant reduction in trade flows and was further worsened by the covid-19 pandemic that struck a year after Rwanda had slammed its doors to the northern neighbour.

Before the border was closed in 2019, Uganda export revenues fetched from trading with Rwanda were valued over U$600million. During 2020 Uganda Exports to Rwanda was US$2.31 Million, according to the United Nations COMTRADE database on international trade.

President Paul Kagame said in his new year address that Rwanda prospered in the economic front.

“We are beginning the year 2020 after a successful 2019.Our country remained safe as a result of our efforts”.

The Africa Development Bank in its 2019 outlook on Rwanda, projected robust growth prospects even as the standoff with Uganda heightened.

For example, Rwanda and Tanzania signed the standard gauge railway (SGR) deal dubbed, sub-Saharan Africa’s first 570 Km bullet line with Tanzania worth US$2.5 billion.

Also Rwanda by December 2019 signed a U$1.3 billion deal on Bugesera Airport with Qatar.

One of the biggest blows that Uganda suffered in its standoff with Rwanda was the emergence of Tanzania as Rwanda’s new major trading partner.

Uganda exports to Rwanda include; mineral fuels, oils, distillation products ,plastics ,textiles ,cereals , electronics, vehicles, machinery, fish, edible fruits, soaps, cement, lubricants, waxes, candles and an assortment of manufactured articles.

With the border slated for opening on Monday, the gesture is expected to boost  the movement of goods, transport, persons and services and under strict observation of restrictions against covid-19 pandemic.

How Museveni Lost to Kagame in Race For Regional Dominance

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Business

Akabanga Tycoon Diversifies to Petroleum

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Sina Gerard famed for producing the hot oiled pepper ‘akabanga’ has diversified into petroleum products, Taarifa Business desk reports.

Under a new company registered as Sina Gerard Petroleum Ltd, the tycoon’s decision indicates that he is reading from a good business book on diversification strategy.

Diversification is a business development strategy in which a company develops new products and services, or enters new markets, beyond its existing ones.  Companies diversify to achieve greater profitability.

Diversification will never be an easy game, and managers must study their cards carefully. It takes smart players to know when it’s best to raise their bets and when it’s best to fold.

Havard Business review research suggests that if managers consider the following six questions, they can push their thinking still further to reduce the gamble of diversification. Answering the questions will not lead to an easy go-no-go decision, but the exercise can help managers assess the likelihood of success.

The issues the questions raise, and the discussion they provoke, are meant to be coupled with the detailed financial analysis typical of the diversification decision-making process.

Together, these tools can turn a complex and often pressured decision into a more structured and well-reasoned one.

Thus, when managers consider whether or not to diversify, they should ask themselves the following questions:

What can our company do better than any of its competitors in its current market?

Before diversifying, managers must think not about what their company does but about what it does better than its competitors.

What strategic assets do we need in order to succeed in the new market?

To diversify, a company must have all the necessary strategic assets, not just some of them.

Can we catch up to or leapfrog competitors at their own game?

Will diversification break up strategic assets that need to be kept together?

Managers need to ask whether their strategic assets are transportable to the industry they have targeted.

Will we be simply a player in the new market or will we emerge a winner?

What can our company learn by diversifying, and are we sufficiently organized to learn it?

Like good chess players, forward-thinking managers will think two or three moves ahead.

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