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22 June 2017
Kenya: Tourism to Grow 6% Annually in the Next Decade, Global Report Projects
Kenya's tourism industry is expected to grow at an annual average of six per cent over the next decade.
The country's travel and tourism's GDP is projected to grow at six per cent annually over the next 10 years, as the total economy grows at 5.9 per cent, according to the World Travel and Tourism Council (WITC) Benchmarking Report 2017.
The projected growth is quicker than automotive manufacturing at 4.3 per cent and agriculture sector at 5.1 per cent.
The WTTC report shows that travel and tourism industry is larger than mining, chemicals manufacturing and automotive manufacturing combined.
The economic value of the business and leisure travel sector, which is 10 per cent of Kenya's GDP, is almost the same size as Kenya's banking sector, the report shows.
On employment, travel and tourism directly supports nearly three times as many jobs as the banking sector and more than twice as many jobs as the financial services sector in the country.
The report shows that 1.1 million direct, indirect and induced jobs were supported by the industry in 2016, or 9.2 per cent of the country's total employment.
"These figures show that the tourism sector is not only a major engine to economic growth in Kenya, but it is also a creator of jobs," said David Scowsill, president and chief executive officer of WTTC.
Source: allAfrica