Kigali to host 2016 African Hotel Investment Forum
This year one of the key events for the African hotel trade, the Africa Hotel Investment Forum (AHIF), will be held in Kigali, Rwanda. This highlights the determination of the Rwandan government and the Rwanda Development Board to increase further investment in their tourism industry and attract more visitors to the region.
Attracting further investment
The AHIF is an important meeting for those within the African tourist trade. It features leading investors from the international hotel market along with government officials, ministers, industry experts and local businesses. At the event, attendees will discuss a range of subjects crucial to the African hotel trade and for attracting investment into the sector.
The Rwanda Development Board sees hosting the event as an excellent opportunity to mix with influential investors and decision-makers who could help to draw more financial capital into the industry. They want to highlight Rwanda as an ideal market in which to develop their businesses.
Tourism in Africa
Throughout the continent, the tourism industry is regarded as a crucial growth market, with a number of specialist travel operators, such as steppestravel.co.uk, running packages. Current figures from the World Travel and Tourism Council show that the industry contributes 8.1 per cent to the region’s GDP. This is estimated to increase by 4.9 per cent per annum in the period to 2025.
Rwanda is one of the fastest-growing tourism destinations in Africa, and this is largely due to the unique experiences that are available in the area, including gorilla trekking. The country’s tourism sector makes the largest contribution to the economy from foreign earnings.
There was a 3 per cent rise in those visiting the country between 2013 and 2014, with American visitors contributing the most to the economy; they accounted for 20 per cent of the sector’s total income.
Overall, 1.2 million people visited the country during this period, which was an increase from 1.14 million the year before. In terms of total revenue, the tourism sector contributed $303 million to the local economy, compared to $293.4 million for the previous year.
With the country adopting a proactive stance toward attracting more investment and visitors, there will be new opportunities to grow the industry even further. The hosting of the AHIF will be a crucial starting point, highlighting the prospects that are available in Rwanda.