Browsing: Tourism Research Institute (TRI)

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Kenya partners with media to market tourism offerings

Countries
  • Initiative comes as players prepare for a significant tourism boom this year.
  • Kenya’s tourism is picking up from a strong performance in 2022 when global travel resumed.
  • The partnership with local media was initiated on Wednesday during a meeting hosted by Tourism minister Peninah Malonza.

The Kenyan government and local media houses have partnered to market tourism offerings in the country, in a renewed effort to drive up international numbers.

This comes as industry players prepare for a significant boom this year. Tourism in Kenya is picking up from a strong performance in 2022 when global travel resumed post the pandemic.

The tie-up between the Ministry and media houses will showcase “Kenya’s breathtaking landscapes, unique wildlife, and rich cultural heritage,” to captivate the world. Various stateholders launched the partnership on Wednesday during a meeting hosted by Tourism Cabinet Secretary Peninah Malonza.

Editors and journalists from top Kenyan media houses will …

Kenya National Treasury.

Puzzle of Kenya’s low forex reserves amid huge debt obligations

Regional Markets
  • Kenya's forex reserves dipped to $6.2 billion on May 19, an eight-year low, before a slight improvement to $6.4 billion on May 26.
  • At $6.4 billion, Kenya's reserves are just 3.60 months of import cover, which is below the Central Bank of Kenya’s desired target.
  • What's more, the reserves are below the East Africa Community preferred threshold of 4.5 months of import cover, hence exposing the country to high volatilities in the global market.

A dip in export earnings, coupled with reducing diaspora inflows at a time of huge debt repayments have left Kenya grappling with low forex reserves, raising concerns on the health of East Africa's economic powerhouse.

The low forex reserves are further compounding the dollar shortage problem that has been gripping importers for months. Importers, mainly in the manufacturing and the energy sectors, have been struggling to secure the greenback to replenish their suppliers.

Kenya's forex reserves

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martin.mwita Kenya reaps from peaceful elections as international tourist numbers grow 70Tourists arrive at Moi International Airport Mombasa

Kenya’s Tourism Industry Rebounds with 70.45% Increase in International Arrivals in 2022

Industry and Trade
  • The sector rebounded in 2022 due to a 70.45% increase in international arrivals.
  • According to official government figures, the number of arrivals increased to 1,483,753 from870,463 in 2021.
  • Rebound attributed to a number of source countries relaxing Covid-19 limitations and opening up travel.

The tourist industry in Kenya is prepared for a significant boom this year, following last year's good performance buoyed by the resumption of the post-pandemic international travel and robust tourism activities.

The sector, which offers great investment potential primarily in hotel facilities, tour and travel businesses, and travel agencies, rebounded in 2022 due to a 70.45% increase in international arrivals.

According to official government figures, the number of arrivals increased to 1,483,753 from870,463 in 2021.

The Tourism Research Institute (TRI) attributes the rebound to a number of source countries relaxing their Covid-19 limitations and opening up travel.

Prior to the pandemic, the sector contributed 10.4% of the…

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