On 30th, May 2023 – The cabinet secretary for tourism, wildlife and National heritage Penina Malonza delivered a keynote address on unlocking Kenya’s potential through Investment in Tourism, Sports and Culture during the Private Sector Dialogue on the African Continental Free Trade Area (AfCFTA)
The forum was hosted under The 3rd Kenya International Investment Conference (KIICO 2023), the TCD reports.
Kenya offers limitless investment opportunities in tourism, wildlife, and culture, which hold the potential to drive economic growth, alleviate poverty, increase incomes, and foster development of various sectors within the economy.
Being one of the most sought-after destinations for both business and leisure tourism worldwide, Kenya provides investors with a range of government-led initiatives to attract investment into the tourism industry.
Investors can capitalize on various strategies and programs endorsed by the government, including the establishment of new tourism circuits, the creation of resort cities, wildlife conservation, and the development of high-value niche products, among others, aimed at attracting investments to the industry.
Opportunities for investment extend beyond luxury international hotels to encompass an entire tourism ecosystem which supports independent travel, particularly catering to young individuals.
This ecosystem includes secure budget hotels, bed & breakfast facilities, and affordable travel options across the country.
Additionally, diversifying source markets, particularly from within the African continent, presents an avenue for further growth and investment. #bottomup