President Andry Rajoelina set the tone at the International Tourism Fair, affirming Madagascar’s ambition to welcome 1 million international visitors by 2028, compared to 315,000 in 2024.This strategic vision is built on a clear foundation: the rise of luxury tourism, with the construction of five new five-star hotels in the coming months.
Investment opportunity: 10,000 rooms to build
With only 15,000 beds currently available, Madagascar’s hotel capacity is under-dimensioned given the expected growth. According to Johann Pless, President of the Federation of Hoteliers and Restaurateurs of Madagascar, at least 10,000 additional rooms are needed to meet demand.This is a golden opportunity for private investors, particularly in luxury hospitality, eco-responsible lodges, and beachfront resorts — especially in Nosy Be, a jewel of northwestern Madagascar.
Air infrastructure: a key priority
Madagascar has fully understood that tourism development depends on accessibility. Today, only the Antananarivo and Nosy Be airports are able to handle long-haul international flights — mainly from Europe, but also from the Middle East and Asia.However, ten other airports are currently being studied for modernization (funded by the World Bank), to open up new tourism zones. At the same time, domestic flights are being strengthened, partly compensating for the poor condition of the road network.
Focus on Nosy Be and high-potential regions
Among the country’s most promising zones, Nosy Be stands out as a flagship destination, thanks to its international airport, turquoise lagoons, and exceptional marine ecosystem.Ambitious developments are also being considered in Nosy Mitsio, Nosy Sakatia, and the Atsimo-Andrefana region, known for its pristine beaches and UNESCO-listed national parks.
“We must create the conditions for sustainable, fair, and economically impactful tourism for the local population” – Odilon Ranaivoson, Regional Tourism Office of Tuléar
Challenges to overcome = structuring opportunities
As in any emerging market, today’s challenges pave the way for structured and visionary investors:
Land tenure security: Some areas — particularly in Nosy Mitsio or Nosy Sakatia — face difficulties due to incomplete or frozen land registries. This reinforces the need for a transparent and inclusive approach with local communities.
Combatting sex tourism: Madagascar is determined to eliminate such practices through hotel reporting systemsand zero tolerance, especially in high-traffic areas like Nosy Be.
Local employment & economic impact: The national strategy is based on training the local population and subcontracting with Malagasy companies, to secure long-term economic benefits from tourism.
Why invest in Madagascar – and especially in Nosy Be?
🌍 Strong tourism growth supported by national authorities
🏝️ Nosy Be: a flagship destination already connected to the international network
📈 Incentives for both foreign and local investment in the tourism sector
🛫 Modernized infrastructure with support from international donors (World Bank, AFD, etc.)
🤝 Urgent need for partners with expertise in international standards (luxury hospitality, sustainable tourism, digital marketing)
Madagascar — and especially Nosy Be — offers a rare investment window in an authentic, high-potential, and largely untapped market.Positioning yourself in Nosy Be today means joining the next major destination of the Indian Ocean, fully aligned with the new expectations of tomorrow’s travelers: luxury, nature, experience, and meaning.
Article inspired by Guilhem Fabry (Le Monde) – Correspondence from Antananarivo (Madagascar)