Bumper Tourist Season Expected 2007/08

As count down to the 2007/2008 tourist season is getting nearer day by
day people working in the tourist industry are expecting a promising
season.

Tourism is considered to be the main source of foreign exchange
earning for The Gambia. The sector absorbed the country's largest
unemployed youth force. The tourism sector provided huge opportunities
for both Gambians and non- Gambians alike, such as scholarship for
students, among others.

Speaking to the Arts and Culture recently, stakeholders in the
promotion and development of tourism in The Gambia, expressed deeper
sense of gratitude and optimism about the 2007/2008 tourist season.

According to Nari Chow, Wood carver, sculpture and dealer in
traditional clothes at Shop No. 37, in the Senegambia Craft Market, a
good tourist season is expected this year, but was quick to say that,
it has never been easy during the off season.

According to Mr Chow, he started to work in the industry since 1981 at
the Fajara Craft Market, then there was no Craft Market in Senegambia
area. "The only Craft Markets in The Gambia were Fajara, BB craft
market and the one in Banjul" he said.

Mr Chow, affirmed that its through his work that he pays his children
school fees and solve his personal problems from the business.
"Tourist season is subjected to many forces, so there is no 100
percent guarantee that the season will be a resounding success. All we
can do is to pray to God for a successful season. As the season
approaches, one has to have faith in God. Sometime you make a fortune,
and at times is the otherwise," he said.

He took the opportunity to urge for attitudinal change, on the part of
both bumsters and other unscruplus elements in the interest of a
healthy promotion and development of tourism in The Gambia.

Ebrima Sanneh, dealer in Wood Carve materials also expressed deeper
sense of expectation for the 2007-2008 tourist season.

Why Gambia?

In the endless search for equity growth and rental yields property investors are searching further and further afield. Dubai, Bulgaria, Croatia and Turkey have all enjoyed their 15 minutes of fame as an overseas property hotspot and the markets there continue to thrive despite the threat of the bubble bursting. Costa de la Luz and Cape Verde are currently enjoying the limelight but a real opportunity lies on the West African coast in the former British colony of The Gambia. The Gambia is a 6 hour flight from London and has blossomed into a world class tourist resort over the last decade with five star hotels, fine dining, fantastic beaches, water sports, sports fishing and many other quality sporting and leisure pursuits. The Gambia is peaceful and stable. Crime rates and the cost of living are among the lowest in the world. Property ownership is part of the Gambian constitution and the conveyancing system is transparent and straightforward when done professionally. The Gambian government is totally committed to free enterprise. Luxury brand new four bedroom villas range from 80,000.00 GBP to 150,000.00 GBP dependant on location and proximity to the beaches. These properties can rent for up to 10,000.00 GBP per annum to United Nations or embassy staff. Building land is readily available and prices start from less than 1.00 GBP per square metre. Construction costs are a fraction of those in Europe and opportunities exist for commercial, residential, and tourist developments.

Other Useful Information

High calibre maids, gardeners and security staff are readily available, many with extensive experience gained in the luxury Gamban hotels. There are many European, Gambian and Arabic property maintenance firms with cost and quality varying considerably. We can provide suitable companies including references where necessary.

Other Costs Involved in Gambian Property Purchase

As with most conveyancing transactions the purchase price is dependant upon a number of factors predominantly location, size and quality of the property/land being tendered.
There are annual payments for land rent and local taxes to be made. The land rent is a minimal fee and indicated on the lease document where the property is purchased as leasehold land.
Local rates are based on the rateable value of the land assessed by the Tax Office. The rateable value accounts for both the land and building value dependant upon type, location and use class. When this value is decided the Area Council determines the percentage to be charged for local rates. These rates are also minimal. .

Utilities Billing in Gambia

Electricity is billed on a monthly basis with a minimum standing charge regardless of occupancy based on the electrical capacity of the property. Actual units of electricity used are paid on top of this standing charge. There are prepaid electricity meters available - Cash Power - where preferred.
Telephone access is provided by Gamtel (the equivalent of BT in the UK). They bill on a montly basis.
Mobile access is provided by Africel and Gamcel with Alcotel on its way. These only operate through the purchase of sim cards and top-up credit cards which are widely available. There is little to choose between these providers on pricing or reliability.
The internet is provided by both Quantum who offer Broadband and Gamtel who offer a dial-up connection. It should be noted that VOIP is illegal in the Gambia. The internet is also billed monthly.
Satelite TV is available with widely varying packages. Expect to pay equipment, installation and set up fees together with a monthly standing charge.

Gambian Buildings Insurance

Building insurance is available and is recommended. Please contact us where necessary for further details.
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General Summary of Fee Structure

Total official costs involved in purchasing property should be around 1%.
Lawyer's fees - approx.10% of the selling price (dependant upon the solicitor's set fees).
Agents are paid by the seller unless otherwise agreed (approx. up to 10% of the purchase price)