Investment Opportunities Available Within the Tourism and Hospitality Sector in Kenya By Dr. Ibrahim Mohamed Principal Secretary Ministry of East African.

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Presentation transcript:

Investment Opportunities Available Within the Tourism and Hospitality Sector in Kenya By Dr. Ibrahim Mohamed Principal Secretary Ministry of East African Affairs, Commerce and Tourism Department of Commerce and Tourism

Content Background Investment in New Tourist Attractions Investment in Travel Facilitation Investment in Accommodation Facilities Investment in Food and Beverage Services Investment in Tourism and Hospitality Training Financing Models Investment Incentives Reasons to Invest in Kenya’s tourism Sector Tourism Support Infrastructure

Background  Economic Contribution of Tourism 10% of the GDP 10% of the GDP A leading Foreign Exchange Earner (20%) A leading Foreign Exchange Earner (20%) 9% of Total Wage Employment 9% of Total Wage Employment Identified as one of the key economic drivers under Vision 2030 Identified as one of the key economic drivers under Vision 2030 Tourist arrivals projected to increase from 1.7 million in 2012 to 3 million 2017 Tourist arrivals projected to increase from 1.7 million in 2012 to 3 million 2017  Kenya’s tourism Product Diverse wildlife, beautiful scenery, wilderness, pleasant climate & white sandy beaches Diverse wildlife, beautiful scenery, wilderness, pleasant climate & white sandy beaches Rich cultural and historical heritage Rich cultural and historical heritage

Reasons to Invest in Kenya’s Tourism & Hospitality Industry  Fully liberalized economy with a free foreign exchange regime  Strategic location –for Eastern & Central Africa with a coastline and a port at Mombasa (new port at Lamu being developed)  Massive infrastructural development going on or planned. E.g LAPSSET Project, Standard Gauge Railway, Expansion of JKIA  Developed Air transportation system (Regiona l hub )

Reasons to Invest in Kenya’s Tourism & Hospitality Sector  Membership to regional trading blocs COMESA, EAC  Prospects for Oil, natural gas and Coal to reduce cost of energy  Devolved system of governance to open up investment opportunities in counties.  Improved regulatory and licensing regime e.g. One- stop shop initiative.

Investment in New Tourist Attractions and Niche Tourism Products Development of 3 high end resort cities in Isiolo, Turkana and Lamu (Land identified in Isiolo and Turkana). Development of 3 high end resort cities in Isiolo, Turkana and Lamu (Land identified in Isiolo and Turkana). Investment in conference facilities in major cities e.g Nairobi, Mombasa, Kisumu Investment in conference facilities in major cities e.g Nairobi, Mombasa, Kisumu Proposed sites for conference facilities include Mombasa and Nairobi Proposed sites for conference facilities include Mombasa and Nairobi Health and Medical Tourism Health and Medical Tourism Agro-tourism Agro-tourism Cultural – Heritage Tourism Cultural – Heritage Tourism

Investment in New Tourist Attractions and Niche Tourism Products Sports tourism Sports tourism Golf resorts Golf resorts Water-sport facilities and marina across Kenyan water ways Water-sport facilities and marina across Kenyan water ways Shopping malls Shopping malls Recreational facilities and theme parks Recreational facilities and theme parks English Point - Mombasa Vipingo Ridge - Kilifi

Investment in Accommodation Facilities We require 30,000 additional beds in high quality accommodation facilities by 2017 We require 30,000 additional beds in high quality accommodation facilities by 2017 International standard hotel at Bomas of Kenya adjacent to Nairobi National Park (80 acres available) International standard hotel at Bomas of Kenya adjacent to Nairobi National Park (80 acres available) Development of a Lake View Resort in Kisumu (20 acres available) Development of a Lake View Resort in Kisumu (20 acres available) Hotels in the proposed Integrated cities e.g Konza and Machakos Hotels in the proposed Integrated cities e.g Konza and Machakos Real estate facilities apartments and Homestays Real estate facilities apartments and Homestays

Investment in Accommodation Facilities (Contd) Eco-lodges and Luxury Tented Camps Eco-lodges and Luxury Tented Camps  2 sites in the Meru Conservation Area  6 sites –Western region  11 sites –Tsavo East & West  1 site - North-Eastern (Marsabit Nat.Reserve)  5 sites – Northern Area (Sibilio, L.Turkana, L.Baringo and L.Bogoria  Other sites outside protected areas

Eco-lodge facility

Investment in Food and Beverage Services Specialty restaurants – expanding markets demand for diversified cuisine Specialty restaurants – expanding markets demand for diversified cuisine Outside catering services Outside catering services

Investment in Travel Facilitation Regional and domestic air services e.g Local charters, low cost airlines Regional and domestic air services e.g Local charters, low cost airlines Tour Operations Tour Operations Travel Agents Travel Agents Short-duration cruises (Coast, L.Victoria) Short-duration cruises (Coast, L.Victoria)

Investment in Tourism & Hospitality Training  Ronald Ngala Utalii College – 60 Acres in Kilifi, Coast  Encouraging development of other privately owned institutions

Investment in Tourism Support Infrastructure  Superhighways e.g from Mombasa (Kenya) to Kigali (Rwanda), Moi Int. Airport – Milindi Road  Proposed mass rapid transit system will require investments in buses, traffic control systems, etc  Power generation plants (Geothermal, Hydropower, wind power, etc)  Renewable energy equipment  Telecommunication services

Financing Models  Short –term and long-term loans by Tourism Finance Corporation (Kenya Tourism Development Corporation)  Public Private Partnerships (PPP)  Build Operate and Transfer (BOT): is a form of project financing, wherein a private entity receives a concession from the private or public sector to finance, design, construct, and operate a facility stated in the concession contract.  Commercial Bank loans

Thank You