Rwanda’s tourism sector is experiencing significant growth, with new data confirming a consistent increase in the surplus generated by travel services over the past three years.
This positive trend highlights the growing importance of tourism to the Rwandan economy, culminating in a record travel balance of payment surplus of USD 215 million in 2024.
Latest data released Friday by the National Institute of Statistics of Rwanda (NISR) detail the travel expenditure trends, comparing earnings from international visitors with spending by Rwandan residents traveling abroad.
The data reveals a steady expansion of this surplus, demonstrating the sector’s increasing contribution to the nation’s financial health.
A “Travel Balance of Payment Surplus” refers to a situation where a country earns more money from its travel-related activities with other countries than it spends.
A surplus occurs when the “travel credits” (money earned from foreign visitors) are greater than the “travel debits” (money spent by residents abroad).
In simple terms, it means the country is earning more from tourism than it is spending on outbound travel.
In 2022, Rwanda’s travel sector recorded a net surplus of USD 165.5 million. This figure represents the difference between the total travel credit (spending by non-resident visitors in Rwanda), which was USD 399.6 million, and the total travel debit (spending by Rwandan residents abroad), which was USD 234.1 million.
The positive trend continued into 2023, with the surplus increasing to USD 208.7 million.
Total travel credits for 2023 reached USD 563.9 million, while total travel debits were USD 355.2 million.
The latest data for 2024 indicates further growth, with the surplus rising to a record USD 215.6 million. As of December last year, Rwanda had earned an estimated USD 579.5 million from travel services, while Rwandan residents spent USD 363.8 million on international travel.
This consistent year-on-year growth illustrates the increasing strength of Rwanda’s tourism sector.
The surplus has expanded from USD 165.5 million in 2022 to USD 215.6 million in 2024, showcasing a positive trend in the country’s travel economics and establishing a new record for Rwanda’s travel balance of payment surplus.
Factors Influencing Travel Trends
The NISR reports also provide insights into the factors influencing travel trends. For non-residents visiting Rwanda, holidays were a significant driver of travel.
In contrast, business travel was a primary reason for Rwandan residents traveling abroad.
The data is collected through the Travel Expenditure Survey (TES), conducted bi-annually by the NISR in collaboration with partners.
The survey gathers information on traveler expenditure, including daily spending and length of stay, which is then used to estimate total travel credits and debits.
