Rwanda’s Tourism Revenue climaxed 36% from $445 Million in 2022 to $620 Million in 2023 as Published in the 2023 Rwanda Development Board Annual Report

By Abdul Rahman Bangura-

Kigali, Rwanda
Photo Credit: Visit Rwanda

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- This advancement seen from 1.4 million visitors’ states that, the sector has outweighed 2019 revenues, at a recovery rate of 124% from the challenges of the Novel Coronavirus (COVID-19) pandemic.

Consequences of the nation’s strides to promote domestic tourism, this section made an advancement to $47.7 million, supporting to increased visits to national parks which generated $35.79 million in 2023, the report explains.

The Volcanoes National Park registered the highest increase of 38% in visitors, followed by Akagera National Park which increased by 24%, and Nyungwe National Park by 10%.

Nyungwe National Park was declared a World Heritage site in 2023. Thus, RDB’s revenue sharing scheme with communities encompassing the national parks saw Rwf2 billion disbursed in different projects encircling 54 projects in agriculture sector, 43 infrastructure projects, 8 projects pegged at supplying equipment for rural shops, housing, and artisans, as well as 6 projects for community enterprises.

Michaella Rugwizangoga – Chief Tourism Officer, RDB, noted the growth evolves as a dividend of strategies to position Rwanda as a unique high-end, low-volume, eco-tourism destination, and conservation efforts.

She noted, Rwanda has incessantly participated in top global tourism business fairs over the past 20 years, including the ITB Berlin, we are Africa, ILTM (Singapore, Cannes, and Virtuoso) where Rwandan travel agencies engage with tourism buyers.

“Rwanda’s capacity to attract top hospitality global brands such as One & Only, Singita, Radisson, and Marriott, the promotional role played by Visit Rwanda partnerships, as well as incentive chances for local and international investors are also key factors for such incredible growth.”

Irrespective of the Administration’s regulation move on closing time for nightlife, the leisure segment of tourism increased by 48% compared to 2022 and accounts for $236 million of total revenue. It increased by 19% to pre pandemic level.

As it evolves to the Meetings, Incentives, Conferences, and Events (MICE) industry, Rwanda recorded $95 million in revenue in 2023, from 160 events that attracted 65,000 delegates.

Experts in the MICE industry note that through investments in infrastructure and promotional strategies, the safety and stability the nation enjoys, and the visa-free regime, Rwanda continues to emerge as one of the top destinations in Africa.

The revenue generated in 2023 might be a step closer to achieving the $800 million revenue target by 2024 from $400 million in 2017, as highlighted under the National Strategy of Transformation (NST1), the government’s seven-year (2017-2024) strategy that sets out plans for achieving its larger picture vision for economic development.

While the target was set before the onset of the pandemic, Rugwizangoga said the sector’s recovery is impressive and demonstrates its resilience.

“The sector representing 10 percent of Rwanda’s GDP can reach the target if we continue to deepen our efforts, increase the visitors’ length of stay, sell Rwanda internationally as one destination, and develop more religious tourism-related products, and culture and heritage products.”

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent