Tourism can be a nuisance, as becomes clear when listening to a growing number of inhabitants from Barcelona, Amsterdam, Paris etc, but it also serves as a source of identity and cohesion and as driver for socio-economic development. This is recognised by the shareholders from Hifadhi Zanzibar, as it was recognised by the shareholders of Stadsherstel Amsterdam some 60 years earlier. The Sovereign Investment Lab (SIL), a research unit of the Baffi Carefin, Bocconi University,