October 9, 2022
2 mins read

Kenya to receive nearly 1.46 mn foreign tourists

He revealed that Kenya has built on efforts to ensure that tourism experiences are not only safe and enjoyable for visitors, but also sustainable and profitable for stakeholders in the industry…reports Asian Lite News

Kenya has forecast to receive nearly 1.46 million foreign tourists in 2022, up from 870,000 recorded in 2021 amid the post-Covid-19 economic recovery.

Najib Balala, Cabinet Secretary in the Ministry of Tourism and Wildlife said in Nairobi, the capital of Kenya, that the tourism sector revenues are expected to expand from 146 billion shillings ($1.2 billion) posted in 2021 to $2.19 billion this year.

“Kenya as a tourism destination is quickly on its way to recovery as a result of value addition to tourism experiences as well as diversification of offerings,” Balala added during the opening of the 12th edition of Magical Kenya Tourism Expo.

Tourism is one of the leading sources of foreign exchange for the East African country. He said that the tourism expo, which is the largest East and Central African travel trade show, brought together more than 200 exhibitors and 160 buyers from Europe, Africa, Asia, and the Americas.

He revealed that Kenya has built on efforts to ensure that tourism experiences are not only safe and enjoyable for visitors, but also sustainable and profitable for stakeholders in the industry.

Betty Radier, CEO of the state-owned marketing body, the Kenya Tourism Board (KTB), said that the tourism expo is part of Kenya’s efforts to revitalise tourism as it focuses on Africa and other emerging markets.

“We are delighted to have the event return to in-person after two years. Last year we held the event virtually to ensure that the sector did not lose out on any opportunities,” she added.

Kenya’s forex reserves fall to 5-year low

Kenya’s foreign exchange reserves declined by 12.5 billion shillings (about 103 million U.S. dollars) this week to hit a five-year low as the shilling fell to the lowest level in history against the dollar, the Central Bank of Kenya said in its weekly update of the financial markets.

The reserves fell from 7.42 billion dollars last week to 7.32 billion dollars, with the apex bank reported to have sold an unspecified amount of dollars to stabilize the local currency.

During the week, the shilling fell to an all-time low of 120.82 against the dollar, the Central Bank said in its update released Friday evening.

The Kenyan currency has declined 7 percent against the dollar year-to-date.

Despite the decline, the Central Bank, however, said that “the usable foreign exchange reserves remain adequate” to cushion the shilling and cover importers’ demands.

The 7.321 billion dollars reserves, which are at 4.13 months of import cover, however, are in breach of the East African region’s forex reserves policy, where member states are required to maintain 4.5 months of import cover.

ALSO READ-Kenya on alert as Ebola resurfaces in Uganda

Previous Story

Man City climb atop the table with win over Southampton

Next Story

Africa’s petroleum producers back OPEC+ production cut

Latest from AFRICA NEWS

Kabila returns to Congo from exile 

Kabila, who left Congo in 2023, came to Goma “to participate in peace efforts” in the conflict-hit east where Rwanda-backed M23 rebels have seized large swaths of territory  Former Congolese President Joseph

India, Tanzania discuss strengthening bilateral ties 

Tanzania and India have traditionally enjoyed close, friendly, and cooperative relations. From the 1960s to the 1980s, the political relationship was characterised by shared commitments to anticolonialism, non-alignment   India’s External Affairs

INS Sunayna arrives in Mozambique 

 The port call marks a significant milestone, enhancing maritime cooperation and interoperability between the Indian and Mozambique Navies   The Indian Navy’s INS Sunayna, currently deployed as part of the Indian Ocean
Go toTop

Don't Miss

Biden Names Kenya Major US Ally

The MNNA status is a designation under US law that

Concern In Kenya As 95 Schoolgirls Paralysed By Mysterious Disease

Some students are responding positively to medication, while others are