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Kenyan image intact, still top business destination

Global hotels giants among those seeking to widen investments in the East Africa region

by Stanley Carlos Okombo

@StanleyOkombo

    Kenya has been ranked one of the top Africa countries whose investment markets are progressively being seen as open for business regardless of perceptions of imminent risks. A renowned global business consultant has given Kenya a clean bill of health and predicts a bright future for the country's capacity to attract top international investors. The presence of representatives of some of the top hotels in the world in Kenya recently, among others, is reason for HTI Consulting chief executive officer Wayne Troughton to believe the country is still way at the top of Africa's preferred business destinations."In the last few weeks, top official of the world's big hotels such as Hillton, Wyndham, Acco and Marriot have been in the country to assess the hospitality business environment. I believe it's about the increasing global business prospects in the region which Kenya commands a huge part of,"Troughton told People Business in an interview.
   Other establishments are in the planning stages, such as Radisson Blu hotel in Upper Hill, Nairobi, another Crowne Plaza hotel and a Three-Star hotel by the Tribe Group. "This clearly signals an emerging active hospitality market in which Kenya is a gateway to the rest of the region. The discovery of oil and gas in the East Africa region will attract a number of investment conferences on the two minerals," said Troughton. Troughton said Kenya, for instant is a mature market with better infrastructure than many other countries in the region. It also has a big educated workforce, a historically strong economy and an advanced hospitality market. The ongoing expansion of the country's aviation industry, especially the upgrading of Jomo Kenyatta International Airport and construction of big office apartments also dictates the new investment appetite.
   "This, therefore, tells you the current security scenario is just but a temporary aspect. We see East Africa as the 'New West' in terms of development. We are aware of the growth potential in this region and we predict that in the next 15-20 years,'it will be a very competitive market globally," Troughton added. HTI Consulting, one of the biggest business research and analysis companies in Africa has been in existence for 12 years and works in 36 countries. The firm's view of the region resonates with the Africa Hotel Investment Forum's recent findings. The forum's organizers, Bench Events, carried out a survey that found the African continent is not considerably different from others. The survey report recommended that investors be flexible when it comes to business strategy due to the complexity and rich diversity in the continent.
 

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