Rwanda’s tourism revenues increased to 445 million U.S. dollars in 2022, up 171.3 percent from the previous year, with nature-based tourism bearing the potential to drive the country’s economic growth, according to official data.
Gorilla trekking, a unique tourist attraction in the East African country, generated revenues of 113 million dollars, the government institution, Rwanda Development Board (RDB), said in a report released on Wednesday.
The country attracted about 110,000 visitors to its national parks in 2022, registering an increase of 142.4 percent from 2021, the report said. It added that the country aims to increase tourism receipts to 800 million dollars by 2024.
“We also saw a 40.5 percent increase in total goods and services receipts in 2022. This is a positive sign of movement in the economy, despite the global supply chain disruption,” said Clare Akamanzi, chief executive officer of RDB.
Rwanda to increase 2023/2024 budget to boost economy
Rwanda plans to increase the government spending by six percent in the 2023-2024 fiscal year compared with the previous budget to boost economic growth amid the COVID-19 pandemic and uncertainties brought by geopolitical tensions in the world, a senior official has said.
The budget of 5.03 trillion Rwandan francs (about 4.76 billion U.S. dollars) “will reflect the medium-term fiscal path which allows for increased spending to reach National Strategy for Transformation goals while maintaining public debt at sustainable levels,” said Uzziel Ndagijimana, the country’s minister of finance and economic planning, while presenting the budget to the Rwandan parliament on Wednesday.
The country is striving for economic recovery despite the COVID-19 pandemic, climate change, high inflation, supply chain issues caused by the Ukraine crisis, among other challenges, Ndagijimana said.
The Rwandan government will continue to support economic recovery through supporting businesses affected by the pandemic, while key investments in education, healthcare, information and communications technology, and agriculture will be at the forefront of the ongoing effort to invest in Rwanda’s future, he added.
According to Ndagijimana, Rwanda’s economy is projected to grow by 6.2 percent in 2023, compared to 8.2 percent in 2022.
Xinhua
