Funds allocated to Kenya Tourism sector for boosting the sector

Published on : Saturday, April 1, 2017

KenyaKenya’s world-famous tourist attraction, Fort Jesus has become one of the biggest gainers in this budget by getting a Sh100 million allocation. Treasury Cabinet Secretary Henry Rotich was generous enough to allocate a total of Sh2.7 billion to Kenya’s tourism sector.

 
He said that most of this sum will go for recovery efforts. Mr. Rotich further announced that a team within the Tourism Regulatory Authority (TRA) in charge of recovery efforts for the sector would get Sh1 billion. Kenya Tourism Board has placed a great deal of importance to new markets like China and so, a further sum of Sh1 billion would go to sustaining such markets. Sh600 million will go for capital lending to Kenyan hoteliers.

 
To quote Rotich, “Tourism has been growing in leaps from a low of four per cent in 2013, to the current rate of 15 per cent. If we can sustain this growth rate through investment in this sector then we can spur job creation in accordance with Vision 2030.” He further added, “Recognizing the importance of aviation to the economy, the government is keen to keep the positive trajectory that has been achieved at Kenya Airways (KQ) and is working with other stakeholders to ensure that the ongoing efforts to restructure the KQ balance sheet and place the company on a long term sound financial footing is achieved.”

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