Market Research in Gabon
Gabon is an upper-middle-income country, with petroleum contributing to its gross domestic product and foreign exchange, and mining also an essential industry. Gabon is the fifth-largest oil producer in Africa and the fourth-largest manganese producer in the region. Forestry also contributes to Gabon’s export earnings. So are rubber, tourism, agriculture, and fishing.
Gabon is a central African nation located on the Atlantic seacoast. It shares borders with Cameroon, Equatorial Guinea, and the Republic of Congo.
Cameroon lies to the north of Gabon. Equatorial Guinea sits to the northwest, and the Republic of Congo is to the southeast.
Libreville is the capital city of Gabon. It is also the most populous urban development. Libreville lies near the Gulf of Guinea, on the banks of the Komo River. Libreville hosts the Palais Léon M’ba, the meeting place of the Parliament of the country. The city is also home to the Libreville International Airport. Libreville’s port has a thriving shipbuilding industry. This seaport is for the export of cocoa, wood, and rubber.
Port-Gentil is Gabon’s second city, which stretches along the beach. It has massive oil and gas rigs.
Trends in Gabon
Gabon’s wealth of natural resources creates an avenue for businesses.
Gabon grows hardwoods, some of which are in high demand across the world. Examples are Okoume, Mahogany, Ebony, and Tigerwood. In the past, the lack of transport infrastructure hampered the exploitation of forest products. This situation changed following the building of the Ndjole Bitam Highway and the Trans Gabon Railway development. The Gabonese government has also encouraged reforestation and selective thinning of the trees.
Benefits and Strengths in the Market
COVID-19 cases in Gabon have ebbed and spiked, leading to the closure of land borders except for government-approved crossings. Situations such as these can impact the international sale of petroleum.
The Gabonese government is taking steps to diversify its economy. Although tourism in Gabon is still underdeveloped, there are many tourist attractions. These include inland fishing facilities, beaches, rivers, and mountains. Tourists enjoy visiting the Crystal Mountains National Park and the Ogooué River Falls, and a national park system is also under development, promoting eco-tourism.
Reasons to Grow Your Business in Gabon
Currently, more than fifty companies are exploring the forests in Gabon for opportunities in the timber industry. The government is also granting concessions to potential investors.
The government is considering diversification of the economy. Measures include making it a one-stop-shop for investors and introducing a Public-Private Partnership (PPP) framework and a domestic arbitration court.
Gabon now offers guidelines for the hydrocarbon and mining industries, making them more transparent and investor-friendly.
About Market Research in Gabon
Poverty and the unemployment rate in Gabon are significant challenges. These problems are due to high levels of corruption. Thus, Focus Groups have a crucial role in safeguarding investors. That’s why it’s essential to conduct surveys on each country to understand the market. Qualitative and Quantitative Research also helps business owners. Investors can determine if an investment into Gabon’s economy will be worthwhile.
Strategy research also enables the investor to conduct a systematic study of the country’s economy. For example, an investor is considering investing in fossil fuel. That investor will have to be aware of the resources that are available in the country. He or she will also need to know their location. The investor must also consider the competition that exists in the particular field. The equipment required to conduct the tests is another critical strategic decision. So is knowledge of the proper legal channels.