The 1994 Genocide between the Tutsis and the Hutus is the first thing, which comes to mind for many when the name ‘Rwanda’ is stated.
However, Rwanda has made notable strides in every aspect of development that is economic, social, and political.
Rwanda’s development in recent years has been swift and quiet. The country erased all the remnants and undertones of the ethnical differences, which brought about untold suffering to many people 23 years ago. No other industry in Rwanda can testify to Rwanda’s newly found peace and development than the tourism industry.
The report on “Where to invest in Africa 2017” released by the Rand Merchant Bank puts Rwanda at position 8. Considering the criteria used in these rankings, it is only fair to say Rwanda fully deserved it. The Rand Merchant Bank report mainly focuses on the economic activities, which bring in dollar revenue (in case of Rwanda it is tourism), this allows it to measure significant income generators. The Rand Merchant Bank also balances a nation’s economic activity against the relative ease of doing business. Taking all these factors, Rwanda ranks higher in a continent with 54 nations.
The World Bank, Ease of Doing Business report of 2015 also shows significant steps taken by Rwanda to foster fast development. The report, which assesses a country’s regulatory environment for new and existing investments, ranks Rwanda third in Africa just below Mauritius (1st) and South Africa (2nd). Rwanda is ranked number 43 by the World Bank Ease of Doing Business report of 2015.
Revenue generated from the tourism industry in Rwanda has been increasing exponentially year-on-year. In 2015, Rwanda’s tourism generated $370 million, in 2016; the revenue figures skyrocketed to $404 million. The target revenue figure for 2017 is $440 million. During the recent World Tourism Conference held from 28 to 31 August at the Kigali Convention Center, Belize Kariza, the Chief Tourism Officer at Rwanda’s Tourism and Department said the country was poised to exceed the set revenue target for 2017.
Hosting the World Tourism Conference marked the emergence of Rwanda as a dominant force in world tourism. Rwanda Development Board said hosting such a prestigious world conferences would market Rwanda to the outside world. Speaking on behalf of the Rwanda Development Board, Belize Kariza said hosting the World Tourism Conference helps the country to meet its target of $64 million from meetings, incentives, conferences, and events. In 2016, meetings, incentives, conferences, and events injected $47 million into the economy.