Financial lending institutions in the tourism sector in Kenya

Abstract

This study sought to examine the financial lending institutions in the tourism sector. According to World Travel and Tourism Council, one out of every 13 workers are employed directly or indirectly in the tourism sector. Financial injections in the tourism industry have been on the rise in the twenty-first century since numerous financial lending institutions in the world. In conclusion, financial lending institutions are investing in the tourism industry more due to its great growth potential. Investors in the tourism and hospitality establishments access financial aid from international, regional and local institutions. Loan security gives financial lending institutions the courage to lend out capital, making institutions such as MIGA very instrumental in the tourism sector. This study recommends that the government of Kenya, under the Ministry of Tourism and Wildlife, should provide guarantors’ services to investors who are seeking financial aid for growth in the tourism industry.