The African Development Bank (AfDB) has released its latest East Africa Economic Outlook for 2023, which predicts that East Africa would lead the continent in economic development over the next two years.

According to the report, which was released in late July, the bank predicts that East Africa would grow at a rate of more than 5%, outperforming the rest of the continent. This report attributes this growth to the combined efforts of Uganda, Ethiopia, Kenya, Djibouti, Rwanda, and Tanzania.

East Africa is a model of Economic prosperity in a dynamic and ever-changing global market, with expected growth rates of 5.1% in 2023 and 5.8% in 2024.

This research emphasizes the importance of the service sector in driving the expansion, accounting for over half of the region’s economic growth in the previous year.

Tourism has emerged as a crucial driver of economic success in East Africa, propelled by its natural beauty and rich cultural legacy.

The report further stated that the attractiveness of East Africa’s gorgeous landscapes, diversified animals, and unique customs has drawn travelers from all over the world, increasing demand for hospitality, wine and dining, and entertainment services. This tendency has resulted in more revenue and job opportunities in the region, increasing its economic prospects even further.

Martin Mugarra Bahinduka, the Tourism Minister said the government has focused on  a mission to develop and promote the tourism, wildlife and heritage resources for enhancement of Uganda as a competitive and preferred tourist destination, with accelerated sector contribution to the national economy.

In the current financial year of 2023/2024, government of Uganda allocated some Ugx220billion to tourism sector.

In Kenya, Peninah Malonza, the Minister of tourism recently said the ministry was intending to hire local influencers to promote the tourism sector in the country. Kenya has also allocated a huge sum of funds to promote tourism sector.