Kenya's bid to attract hotel investors

By Bizclik Editor

 Kenya is hoping to entice more big name hotel brands to invest in the country as it looks to diversify its tourism market.

The Kenyan government is backing incentives to attract investment in the country such as tax holidays, land on lease, single licensing, exemption of duty and 100 percent investment allowance for investors.

 More investments are needed to maintain the growing number of visitors recorded each year and to increase Kenyan’s capacity to accommodate them.

Vice President Kalonzo Musyoka and Tourism Minister Dan Mwazo reassured investors of the government’s support for tourism at the opening of the West Africa Hotel Investors Conference.

The Vice President praised investors in the sector for putting cash into alternative accommodation such as villas, home-stays, eco lodges and golf resorts which would help to diversify Kenya’s tourism product.

MORE from African Business Review

He said: "In terms of tourism products, we are no longer solely dependent on beach and safari. We have developed niche products such as Eco-tourism, adventure and sports tourism.

“The two day conference brought together industry chiefs from some of the biggest hotel brands in the world with a view of taking a critical look at investment and growth opportunities in Africa.”

Speaker Ian Gold urged investors to take advantage of the rapidly growing market. He said:  "By 2020, the hotel investment opportunities in this region will be enormous.”

 He cited a growing GDP, middle class and increasing regional connectivity in terms of air transport as some of the factors that will drive tourism business in the continent.

Share

Featured Articles

Abu Dhabi Airports prepares for Terminal A opening

A decade in the making, Abu Dhabi International Airport welcomes 6,000 volunteers to test operational readiness of stunning new Terminal A building

Business Chief expands portfolio with new look and coverage

Business Chief Middle East & Africa launches with fresh new look and extended coverage of the region, with exclusive executive interviews and insights

How Octopus Energy grew to become an industry giant

Octopus Energy continues to grow after a deal was agreed to acquire Shell Energy in the UK and Germany, taking its customer base to almost seven million

Perkbox CEO: How to support employees through tough times

Human Capital

How Middle East is embracing the future of digital finance

Corporate Finance

UAE Lulu Group shifts business for global growth and IPO

Corporate Finance