Sign in

Kenya invites investors for game reserves, marine parks, ecolodges and more to boost tourism

Published on: Aug 24, 2023, 11:13:18 IST
BloombergPosted by
Share
Share via
  • facebook
  • twitter
  • linkedin
  • whatsapp
Copy link
  • copy link
Kenya invites investors for game reserves, marine parks, ecolodges and more to boost tourism (Shutterstock)
Kenya invites investors for game reserves, marine parks, ecolodges and more to boost tourism (Shutterstock)

Kenya is offering 122 tourism-related investment opportunities in game reserves, marine parks, mountains, restaurants, Nairobi convention center, 71 ecolodges

Kenya’s inviting investment to revive its once glorious tourism sector that’s best known for safaris, white sandy beaches and mountain climbing.

Over the years, the industry has dropped to Kenya’s third-biggest foreign-exchange earner — after agriculture and remittances — following periods of political turbulence and terror attacks that marred the East African nation’s image. Underinvestment in facilities also left many properties looking dated.

Now the Kenya Wildlife Service is pitching investors on projects in game reserves, marine parks and the mountains, restaurants, a convention center in the capital, Nairobi, and 71 ecolodges.

Investors in tented camps and lodges will receive 20-year renewable leases while those going into restaurants, shops and various experiences can sign 10-year renewable leases, according to an investment prospectus. Private investment is expected to boost the number of beds at KWS properties to 4,872 from 1,841.

“This strategic expansion will significantly enhance Kenya’s allure as a destination,” KWS Director-General Erustus Kanga told reporters.

Tourism accounts for 10.4% of Kenya’s gross domestic product and 5.5% of formal employment, KWS said. International visitors jumped 72% last year to 1.48 million, while earnings surged 83% to 268.1 billion shillings ($1.85 billion).

KWS manages 32 game and marine parks, reserves, sanctuaries as well as a wildlife orphanage. About 2.18 million people visited its attractions in 2022, it said.

  • Zarafshan Shiraz
    ABOUT THE AUTHOR
    Zarafshan Shiraz

    A lifestyle aficionado with a knack for crafting engaging news across fashion, health, relationships, art and culture, travel, recipes, festivals and pets. Always ahead of the curve, with a finger on the pulse of the latest trends and a passion for storytelling, I bring vibrant, informative and captivating content to life that ensures you stay inspired and in-the-know.Read More

Catch every big hit, every wicket with Crick-it, a one stop destination for Live Scores, Match Stats, Quizzes, Polls & much more. Explore now!.

Catch your daily dose of Fashion, Taylor Swift, Health, Festivals, Travel, Relationship, Recipe and all the other Latest Lifestyle News on Hindustan Times Website and APPs.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.