The importance of tourism and its potential effects on the domestic economy as well as its role in job creation have been highlighted by Finance Minister Ken Ofori-Atta.

He claims that the government wants to increase the country's gross domestic product by around 35% through tourism in order to spur regional economic growth.

On July 4, the finance minister stated, "The building is expected to contribute significantly with approximately 1.2 million anticipated tourism arrivals into Ghana for 2023 and an estimated corresponding revenue of $3.4 billion."

He was speaking at a ceremony to commission the renovated Kwame Nkrumah Memorial Park in Accra.

“The evidence of the vital role of tourism for economic development is clear. For instance, in 2022, tourists spent 660 billion in emerging and developing countries which is about 3 times the amount of official development assistance for that year,” he noted.

“Tourism contributes about 5 percent of Ghana’s GDP and in Jamaica its about 35 percent of their GDP and that is where we [Ghana] want to achieve,” Ken Ofori-Atta.

According to him, the tourism industry offers a distinct opportunity to generate employment and income for people of all genders, ages, and skill levels, thereby providing a way out of poverty for millions.

The finance minister expressed appreciation to the Ministry of Tourism for their diligent efforts in prioritizing and enhancing the sector's contribution to national development and cultural progress.

Furthermore, he extended gratitude to the World Bank for their unwavering financial support of $3.5 million, dedicated to the revitalization of the Kwame Nkrumah Memorial Park.

Meanwhile, President Nana Addo Dankwa Akufo-Addo emphasized that the 5.4-acre facility, established in 1992 to commemorate, promote, and preserve the legacy of Ghana's first president, Dr. Kwame Nkrumah, had not undergone any significant improvements until now.

He highlighted that the renovated park now reflects the extraordinary stature of Dr. Kwame Nkrumah, a renowned Pan-Africanist who played a prominent role in the struggle for Ghana's and Africa's liberation.

The park's renovation, estimated at $3.5 million, is part of the Ghana Tourism Development Project (GTDP), a $40 million initiative supported by the World Bank. The project aims to enhance tourism performance in selected destinations across the country.