Tourism and Agriculture to drive growth in Kenya, says world bank

by Indo Africa Times

Tourism and Agriculture to drive growth in Kenya, says world bankTourism and agriculture recorded the lowest growth in 2014 owing to poor rainfall and terrorist activities. The National Treasury of Kenya was downgrade to between 5.3 and 5.6 percent from the expected 5.8 per cent. Tourism fell a whopping 13.6% in six months. Frequent terrorist activities also led to a drop in the tourism sector, although the condition is said to be improving recently.

Kenya’s Tourism and Agriculture sector will help lift the economic development, said World Bank in its Global Economic Prospects 2015 report. According to the report, the national wealth is expected to expand by 6 percent.

“Among frontier market countries, growth is expected to increase in Kenya, boosted by higher public investment and the recovery of agriculture and tourism,” the World Bank report said.

This growth is anticipated to make Kenya above the average set for Sub-Saharan Africa, excluding South Africa. Tourism and agriculture documented the lowest growth in 2014 owing to poor rainfall and terrorist activities. The National Treasury of Kenya was relegate to between 5.3 and 5.6 percent from the expected 5.8 per cent. Tourism fell a whopping 13.6% in six months. Frequent terrorist activities also led to a drop in the tourism sector, although the condition is said to be improving recently.

“We had assumed that challenges of insecurity would be resolved faster but they translated into travel advisories,” Cabinet Secretary Henry Rotich said, “The rain patterns were also erratic.”

The government has also succeeded to mobilise $2.75 billion (Sh250.25 billion) from international investors. The money will be spent on infrastructural development in transport and energy sectors.

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