2,048,834 and receipts increasing to Ksh 163.6 billion. It was anticipated that 2020 would build on this growth, with a projected 7.5 per cent increase in international visitor arrivals. However, the onset of COVID led to the closure of tourism establishments in Kenya and the subsequent layoff of workers. Te New Tourism Strategy for Kenya 2021-2025 is Kenya’s response in reimagining the future of the tourism sector after
COVID. Te strategy is founded on four strategic shifts: u
u Kenya becoming an all-year-round tourism destination
Creating new and more diverse customer experiences and products
u
Building a refreshed brand image repositioning Kenya as an upmarket, sustainable destination
u
Developing enablers including unlocking alternative and in- novative sources of funding and optimising the adoption of digital innovations and new technologies by the sector. Kenya recorded 1.96 million tourist arrivals in 2023 compared
to 1.48 million visitors in 2022, an increase of 31.5 per cent according to figures contained in Kenya Tourism Research Institute’s 6th Annual Tourism Sector Performance Report. Ac- cording to the report, Kenya earned KSh 353 billion compared to KSh 268.2 billion earned in 2022. Kenya is forecast to receive 2,381,371 tourists in 2024, exceeding
the pre-COVID levels. Te report showed that Kenya’s top tourism source markets in 2023 were the USA with 265,310 tourist arrivals, Uganda (201,623), Tanzania (157,818), the UK (156,700) and India (94,273).
Kenya has been a leading pioneer in mobile- money transactions largely due to government efforts to promote financial
inclusion. Safaricom’s M-Pesa launched in 2007 and was booming by 2012, with rapid adoption and growth. Today it is Africa's
most successful mobile money service and the region’s largest fintech platform.
MOBILE MONEY Kenya has been a leading pioneer in mobile-money transactions largely due to government efforts to promote financial inclusion. Safaricom’s M-Pesa launched in 2007 and was booming by 2012, with rapid adoption and growth. Today it is Africa's most successful mobile money service and the region’s largest fintech platform. Kenya is the world’s second-leading mobile money economy after China. Kenya also boasts other major providers like Airtel Money and Telekom Cash. However Safaricom controls around 96 per cent of mobile money transactions. Te National Economic Survey 2024 published in January
2024 showed that 600,000 Kenyans were abandoning the use of mobile money platforms due to extra charges imposed on transactions with the number of subscribers on such platforms declining from 38.6 million to 38 million. Users also faced increases taxes. Te tax on mobile airtime and data rates would have increased to 20 per cent from 15 per cent under the Finance bill but these were scrapped. Since then there is evidence to suggest that the number of
mobile money subscribers is growing. Tis surge is attributed to a policy change that removed the withdrawal codes previously required for Airtel Money customers. Before this change, Airtel
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