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Kenya’s tourism earnings soars to $3.49bn, boosts foreign reserves

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Kenya’s tourism sector generated a record-breaking revenue of Ksh 452.20 billion ($3.49 billion) in 2024, significantly boosting the country’s foreign reserves.

The sector, which attracted 2.4 million international visitors, saw a 19.79% increase in earnings compared to the previous year. 

The impressive growth, which was driven by aggressive marketing, improved air connectivity, and a focus on niche markets like cruise tourism and business travel, underscores Kenya’s rising prominence as a global destination.

Tourism and Wildlife Cabinet Secretary Rebecca Miano unveiled the figures on Wednesday, highlighting a 12% increase in domestic bed occupancy and a staggering 163.5% surge in cruise tourism, which attracted 6,561 visitors compared to 2,490 in 2023. 

The Meetings, Incentives, Conferences, and Exhibitions (MICE) sector also played a pivotal role, accounting for 27% of total arrivals, up from 24% in 2023.

“Our strategy to diversify tourism offerings and leverage digital platforms has been instrumental in reaching a wider audience and catering to evolving traveler preferences,” Miano said. She credited the introduction of new flight routes and targeted marketing campaigns for the sector’s robust performance.

The United States remained Kenya’s top source market, contributing 306,501 visitors, while Tanzania and Uganda followed closely. 

Africa emerged as the leading regional market, accounting for 40.8% of arrivals, with Europe and the Americas contributing 28.1% and 15.7%, respectively. China also showed remarkable growth, adding 29,085 visitors, reflecting Kenya’s expanding appeal in Asian markets.

Miano expressed optimism about the sector’s future, citing UN projections of a 3% to 5% global increase in tourist arrivals. “We are on track to welcome 3 million visitors by 2025, potentially earning Ksh.560 billion in revenue,” she said.

She emphasized the government’s commitment to fostering public-private partnerships and implementing policies to ensure sustainable growth and competitiveness in the global tourism landscape.

With its diverse attractions and strategic investments, Kenya’s tourism sector is poised to remain a cornerstone of the country’s economic resilience and a magnet for global travelers.

Author

  • Amarachi Orjiude-Ndibe

    Amarachi is a finance writer with a knack for turning complex economic data into compelling stories. With over half a decade of writing experience—spanning content creation, journalism, and on-the-ground reporting—she found herself in finance by accident but stayed for the thrill of decoding numbers that shape economies. Now, she covers the policies, trends, and market shifts that drive Africa’s financial landscape, making crucial information accessible to readers across the continent. At Finance In Africa, Amarachi delivers sharp, data-driven insights tailored for bankers, investors, and finance professionals. She analyses central bank policies, fiscal reforms, and regulatory shifts, translating their impact into actionable intelligence. Her coverage spans banking performance, inflation, currency movements, capital markets, fixed income, and corporate earnings—helping industry players navigate risks and opportunities with confidence. Connect with her on LinkedIn: Amarachi Orjiude-Ndibe.

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