Foreign Tourists Set to Reap Big as Shilling Weakens Against Pound
Although the Kenyan Shilling has continued to recover of late, a new report has revealed that British tourists have been among the biggest beneficiaries of the local currency’s slide against the Sterling Pound.
According to a report released by UK Post Office Travel Money on March 2, out of the 25 currencies analysed, 21, including the Kenyan Shilling were found to have weakened against the Pound over the course of 1 year.
“Most currencies have weakened against the Pound in the past year, and many of these are for destinations that traditionally offer the cheapest prices for meals, drinks and other tourist staples.
“Good examples of this range from Turkey and the Czech Republic in Europe to Kenya, Thailand and Vietnam further afield,” the Head of Travel Money at Post Office, Laura Plunkett commented as reported by The Standard, a British media publication.
Other countries whose currencies weakened against the Pound during the period under review were the Thai Bhat (up 9.9%), South African Rand (up 9.2%) and the Norwegian Krone (up 5.8%).
ALSO READ:
- How not to make a mistake when choosing the best bookmaker in Kenya
- Understanding Gatwiri’s Cause of Death: Unraveling Positional Asphyxiation
- KRA Rules Out Tax Relief on SHIF Deductions
- Understanding Why Married Women Cheat: Common Reasons Behind Infidelity
- Violence Erupts in Mozambique: Three Killed, 66 Injured in Protests Over Disputed Election
This buoyancy of the Euro against leading holiday destinations provides a great incentive for Britons considering trips to Kenya in the coming months.
A trip to Kenya is likely to appeal greatly to them especially when they consider that this is an opportune time to visit Kenya when their home currency is much stronger than the Kenyan Shilling.
This means staying in better spaces and having the capacity to travel to better destinations.
While the Kenyan Shilling has rallied recently, it is still weak against the world’s strongest currencies including the US Dollar and the Sterling Pound.
The government has, however, exuded confidence that the measures it has implemented will correct the situation.
This comes at a time when Kenya is planning double international tourist arrivals in the next five years, up to 5.5 million.
According to the Kenya Tourism Board (KTB), this will unlock up to Ksh350 million in the long term.
Foreign Tourists Set to Reap Big as Shilling Weakens Against Pound
