The World Journey & Tourism Council’s (WTTC) 2024 Financial Affect Analysis (EIR) has right this moment revealed a record-breaking 12 months for Journey & Tourism in Kenya, contributing KES1TN to the nationwide economic system in 2023.
Sector jobs grew 6% to achieve a report 1.55MN, accounting for one in 13 jobs throughout the nation.
Whereas home customer spending reached greater than KES 466BN final 12 months, virtually 15% over the earlier peak and setting a brand new report, spending by abroad guests continued to path the highpoint of 1999 to achieve simply KES 266BN.
Julia Simpson, WTTC President & CEO, mentioned; “The restoration of Kenya’s Journey & Tourism sector is a testomony to its resilience. Reaching record-breaking progress throughout financial contribution, jobs, and home customer spending highlights the sector’s important function within the nation’s economic system.
“Though worldwide customer spending is at present lagging behind its excessive level, the way forward for Journey & Tourism in Kenya appears to be like robust, with substantial alternatives for progress and improvement over the following decade.”
What Does This Yr Look Like?
In keeping with the worldwide tourism physique’s newest analysis, Journey & Tourism’s contribution to Kenya’s economic system is forecast to develop 9% year-on-year to achieve virtually KES 1.15TN.
Jobs supported by the sector are projected to achieve greater than 1.6MN, representing virtually 8% of jobs in Kenya.
Home customer spending is anticipated to proceed driving the sector to attain KES 521BN, however spending by travellers from abroad is forecast to stay beneath the earlier excessive to achieve KES 289.5BN.
What Does the Subsequent Decade Look Like?
With the appropriate authorities help, WTTC is forecasting that the sector may develop its annual GDP contribution to KES 1.7TN by 2034, representing 7.4% of Kenya’s economic system, and will doubtlessly make use of extra than 2.2MN individuals throughout the nation.
