Post date: Wed, May 18, 2016 | | Category: General | |
According to the Economic Survey 2016 by Kenya National Bureau of Statistics, KNBS, performance of the tourism sector is observed to be reducing. The earnings went down to KSh 84.6 billion in 2015 compared to KSh 97.89 billion in 2011, representing a drop of 16%. Furthermore, statistics on the international visitor arrivals reveal that they declined by 54% from 1.82 million in 2014 to 1.18 million in 2015. Though the number of visitors to museums, snake parks and other historical sites increased by 15.4%, from 690,900 in 2014 to 797, 500 in 2015, the period 2011 to 2015 saw a general decline by 5.4%. The Bed-nights occupancy decreased by 16.2% from 7 million in 2011 to 5.9 million in 2015. The decline in visitor arrivals and tourism earnings have been mainly attributed to security concerns associated with terrorism activities. This paper examines the changes of the visitors to major national parks and game reserves from 2011 to 2015 to reveal a national outlook, this is represented in the chart below
Change in the Number of Visitors (in 000) to National Parks and Game Reserves, 2011-2015
Source: KNBS| Economic Survey 2015
Number of the Week: 53 per cent
In the advent of increased Non-Communicable Diseases such as cancer that require long time treatment, reduction of the Out-of-pocket payments is key in sustaining affordability and access to health care services. These can be achieved through increased insurance both by the government and the private sector.
Treasury bonds are a secure, medium- to long-term investment tools that typically offer periodic interest payments semiannually throughout the bond’s life. The Central Bank auctions Treasury bonds on a monthly basis, but offers a variety of bonds throughout the year, so prospective investors should regularly check for upcoming auctions. Outstanding Treasury Bonds increased by 11.2 per cent to Ksh 1,152,041 million in June 2016 from Ksh 1,035,662 million in June 2015.
In June 2016 compared to June 2015, the stock of Treasury bills increased by 84.4 per cent to Ksh 588,088 million from Ksh 318,929 million while the proportion held by commercial banks increased by 67.4 per cent to Ksh 361,859 million from Ksh 217,742 million. In the same period, holdings by pension fund institutions increased to 20.1 per cent from 12.8 per cent while proportion held by insurance companies decreased to 3.1 per cent from 6.5 per cent.
The medium term debt strategy for the financial year 2016/17 emphasized on the need to develop the domestic market by increasing the issuance of Treasury bonds over the medium term. The strategy targeted a mix of 60 percent and 40 per cent for external and domestic financing, respectively.
Trends in Kenya’s Total Domestic Public Debt Stock from 1999 – 2018 (In nominal terms) Source: Central Bank of Kenya The number of the Week: 2.1, this is the factor by which domestic debt has grown in the last five years. Domestic debt has nearly doubled in the last five years (2013-2018) Between 1999 and […]