Browsing: hospitality industry

• In the past two years, short-term rentals in Nairobi have been the new trend.
• Hospitality has bounced back remarkably after the challenges posed by the COVID-19 pandemic, emerging as one of the best-performing asset classes in 2023.
• Trappler highlights that hospitality is a key economic driver, employment creator, and focal property type in regions throughout East Africa.

Hospitality has bounced back remarkably after the challenges posed by the COVID-19 pandemic, emerging as one of the best-performing asset classes in 2023. This resurgence is particularly notable in Nairobi, especially with the renewed demand for short-term rentals.

The strategic position of Kenya’s capital city serves as an East African hub for various industries, including corporate, government, MICE (Meetings, Incentives, Conferences, and Exhibitions), embassies, and tourism, which makes it an attractive destination for hospitality and residence brands.

The increasing and diversifying demand for accommodation creates meaningful opportunities for market expansion and business growth.…

• Service industry activities accounted for 61.1 percent of Kenya’s GDP in 2022.
• A digital tipping platform pioneered by Shukran SACCO seeks to harness service tips to grow savings among members in the service industry.
• Kenya’s restaurant service industry provides jobs to over 80,000 people.

Digital tipping platform Shukran has devised a way to instantly turn tips into savings, a move aimed at boosting the savings culture among workers in Kenya’s vast service industry. The new platform will see restaurant workers directly receive and save their tips to earn dividends as well as seek loans. 

Service industry’s significance in Kenya’s GDP

According to data by the Kenya National Bureau of Statistics (KNBS), service activities contributed about 61.1 percent of Kenya’s gross domestic product (GDP) in 2022.

The digital tipping platform, through the newly formed Shukran SACCO, is looking to capitalise on the industry’s might and significance to grow savings …

Kenya is the third-largest travel and tourism economy in Africa after South Africa and Nigeria. 

According to statistics from the country’s Ministry of Tourism and Wildlife, the tourism sector is a major employer since it is inter-industry linked with other sectors such as energy, agriculture and manufacturing. 

Data from the Tourism Research Institute (TRI) show that in 2019, over two million international visitors visited Kenya. This was an increase of 1.2 per cent over the 2018 arrivals.…