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Western Europe > Business Development  > Tourism, Retail & Property 

Tourism, Retail & Property

Since 1956, IFC has invested over US$2.5 billion (including syndications) in 250 hotel projects in more than 83 countries; more than half these investments (52%) are in International Development Association (IDA) countries, which are some of the poorest countries in the world. Our partners include leading domestic and international investors and companies, such as, Occidental, Orient Express Hotels, TPS Serena, Shangri-La, and other investors that affiliate with large hotel brands, including, Hilton, Marriott, Hyatt, Inter-Continental, and Accor, via management or franchise contracts. 

Since 1984, IFC has prioritized support for the retail sector in developing countries around the world. Retail is a key sector for growing economies: a strong source of job creation and tax revenue, and a path to better health and quality of life as access to consumer goods expands. Much of our investment has focused on three high-impact sub-sectors: grocery stores, shopping centers, and general merchandise retailers. As of September 2011 and since 2004, IFC has committed approximately US$754 million in retail in more than 20 countries.

Property is a fast growing sector in emerging market countries due to rapid urbanization and demographic changes that pose social challenges and call for more essential urban infrastructure. As of November 2011, IFC had committed approximately US$788 million to the property sector—almost all since 2002—of which 70 percent has been in commercial property and 30 percent in residential property (affordable housing). IFC’s investments in the sector include affordable housing, offices, shopping centers, warehouses and industrial developments, and mixed-use complexes.

IFC's Global Head of Tourism, Retail and Property, Olaf Schmidt, is responsible for business development with global companies and is based in the Paris office.

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