By Ogova Ondego
Published September 27, 2013
Kenya’s economy is expected to receive investments worth US$7 Billion from the Travel and Tourism sector over the next 10 years.
Speaking at the just concluded three-day Africa Hotel Investment Forum (AHIF) in Nairobi on September 24, 2013, David Scowsill, President & CEO of the World Travel & Tourism Council (WTTC), noted that Travel & Tourism creates jobs, drives gross domestic product (GDP) growth and stimulates investment in countries and regions.
“In Kenya, our industry is a cornerstone of the economy: 1.8 million visitors in 2012; 12.5% of GDP; 1 in 10 jobs; 20% of exports; 7 billion US dollars (600 billion Kenyan Shillings) of investment forecast over the next ten years,” Scowsill said.
“In Africa our industry supports 9% of GDP, 1 in 14 jobs, and 8% of exports. Globally this amounts to US$6.6 trillion in GDP, 260 million jobs, US$760 billion in investment and US$1.2 trillion in exports.”
AHIF was organised by Kenya Tourist Development Corporation. It was held at Nairobi Intercontinental Hotel, September 23-25, 2013.