Rwanda Development Board Reports Record Economic Growth in 2024
The Rwanda Development Board (RDB) has unveiled its 2024 Annual Report, showcasing a year of remarkable economic achievements across key sectors. Rwanda continues to cement its reputation as a leading destination for business, innovation, and sustainable tourism.
Key Economic Achievements in 2024
Record $3.2 Billion in Investment Commitments
Rwanda secured $3.2 billion in investment commitments in 2024 – a 32.4% increase from the previous year. These investments span manufacturing, renewable energy, agribusiness, and mining, with potential to create over 51,600 new jobs.
Tourism Sector Generates $647 Million
The tourism industry welcomed 1.36 million visitors and achieved significant milestones:
- 27% growth in gorilla tourism revenue
- $84.8 million from MICE sector (Meetings, Incentives, Conferences, Exhibitions)
- 115 international events hosted with 52,000+ delegates
22% Export Growth to $4.2 Billion
Rwanda’s exports surged by 22%, driven by strong demand in UAE, Luxembourg, and other key markets. RwandAir’s expanded cargo capacity contributed to a 33% increase in cargo exports.
Global Recognition for Business Reforms
Rwanda earned top honors in Africa and ranked among the world’s top 10 in the World Bank’s inaugural Business Ready (B-READY) report, validating its business-friendly reforms.
2025 Strategic Priorities
Looking ahead, RDB has set ambitious targets:
- Attract $3 billion+ in new investments
- Exceed $700 million in tourism revenue
- Expand Special Economic Zones
- Enhance digital service delivery
Rwanda will host major global events in 2025, including the 20th Kwita Izina Gorilla Naming ceremony and the UCI Road World Championships – the first ever held in Africa.
“As we reflect on a year of steady progress, I extend sincere gratitude to our partners, investors, visitors, and stakeholders,” said RDB CEO Jean-Guy Afrika. “Your trust and commitment have been instrumental in positioning Rwanda as a global hub for business, tourism, and innovation.”
Source: RNA News