Topic > Essay on Tourism Development in Kenya - 2649

1.0 INTRODUCTION The end of the Second World War saw international trade grow rapidly, driven by a surge in globalization of the economy. In this report, extensive reference will be made to the globalization of trade, particularly in the tourism sector. This exchange in terms of import and export facilitates a larger market for locally produced goods in the larger foreign market. Just as in local trade, international trade is influenced by factors from both the external and internal scope of trade. This leads to the globalization of the economy where world events shape the supply and demand of raw materials. The Kenya Tourist Development Corporation, a government body, has for the last 4 decades driven tourism development through networking investors and providing equity financing and loans to projects. in Kenya. Its mission is "To develop and diversify Kenya's tourism industry by providing a range of financial and advisory services to investors in tourism-related businesses" and has the following main functions: • Research to identify opportunities, trends and priorities in the sector of tourism • Providing a bridge between the public and private sectors in the development of tourism facilities • Facilitating the exchange of information between stakeholders in the sector in order to • promote development and diversification • Providing financial instruments in the form of loans and/or or equity investments • to cover short and long term investors' long-term needs • Provision of legal, commercial and market advice to assist investors in identifying and implementing profitable ventures.1.1 KENYA'S BUSINESS ENVIRONMENT Kenya is strategically positioned at the helm of East Africa's economic powerhouse. This aspect gives the app... middle of paper... form of both export and import. Exports, on the other hand, rely heavily on agriculture and horticulture, while imports rely heavily on machinery, industrial supplies, and petroleum products. The government has played an important role in creating a conducive business environment in the country. These efforts have paid off by attracting more investors to the country. This has seen international trade levels increase. The private sector also deserves some credit for its invaluable effort to exploit the opportunities opened up both at home and abroad. Overall, the international business environment in Kenya has been stable. Stability translates into creating an enabled environment. These favorable conditions can be mainly attributed to the government's effort and commitment in promoting and safeguarding international trade in the country.