Tourism inflows and diaspora remittances increased by 43 and seven per cent respectively in the year to May, offering crucial forex reserve support at a time import bill has been growing.
Latest data from Central Bank of Kenya (CBK) shows that tourism inflows rose to $1.02 billion (Sh106.3 billion) in the year to May 2017 from $714 million (Sh74.2 billion) a year earlier. This means tourism has replaced horticulture as the third largest foreign exchange earner for Kenya after diaspora remittances and tea.
