Rwanda eyes new revenue growth as global events hub destination

Rwanda's Meetings, Incentives, Conferences, and Events (MICE) industry has been making significant strides, with a record revenue of $95 million in 2023, marking a remarkable 48 per cent increase from the previous year. The country is now setting its sights on achieving even higher revenue targets in the coming years, solidifying its position as a premier global events destination. In an exclusive interview with CNBC Africa's Aby Agina at the IRONMAN 70.3 event in Rubavu, Candy Basomingera, the Deputy CEO of the Rwanda Convention Bureau, shed light on the country's ambitious plans and the positive impact of hosting large-scale events. Rwanda is gearing up for a bustling second half of the year, with a lineup of diverse events spanning technology, sports, and entertainment. Among the exciting upcoming events is the inaugural AI in Africa summit in early October, the return of Global Citizen, and the hosting of the 120th year celebration of the Fédération Internationale de l'Automobile. This event will include the General Assemblies and prize-giving ceremonies for champions across various racing disciplines, showcasing Rwanda's commitment to becoming a prominent sports destination. Additionally, Rwanda is not only focused on hosting events but also on nurturing local talent, as evidenced by the increasing participation of Rwandan athletes in events like the Ironman competition. The country's efforts in talent scouting and capacity building underscore its dedication to long-term partnerships and sustainable growth in the MICE industry. Basomingera emphasized the significant impact of hosting large events on job creation and skills development in Rwanda. The multiplier effect of the events and tourism sectors extends beyond venue management and hospitality, generating employment opportunities across various segments of the economy. The events industry has become a beacon of hope for young people and women, with a growing interest in pursuing careers in event management and related fields. As Rwanda continues to elevate its status as a top event organizer, the ripple effect on job creation and economic empowerment is becoming increasingly evident. With a strong commitment to excellence and a focus on sustainable growth, Rwanda is poised to enhance its position as a leading hub for global events, creating a brighter future for its people and the broader hospitality industry.