Tourism services earnings up by 12pc

A van carrying tourists passes by as zebras graze in the Mikumi National Parks. PHOTO | FILE

What you need to know:

  • Foreign exchange receipt from services was $174.2 million in February 2019 compared with $186.7 million in the preceding month, largely driven by travel receipts

Dar es Salaam. Tourism services under the travel category continue to lead as a major source of foreign exchange earnings with a 12.12 per cent increase in February, 2019 compared to the amount recorded in similar month in 2018.

Monthly Economic Review for the year ending February, 2019, which was released by the Bank of Tanzania (BoT), shows that the sector’s earning stood at $2.5 billion compared to $2.2 billion in the year ending February 2018.

“Foreign exchange receipt from services was $174.2 million in February 2019 compared with $186.7 million in the preceding month, largely driven by travel receipts,” reads part of the report.

Annually, receipt from services increased to $4,074.1 million from $3,841.2 million in the year ending February 2018, on account of travel and transport receipts

Transport also contributed substantially in foreign exchange earnings after recording a growth of 4.36 per cent to $1.23 billion in the year ending February 2019 from $1.12 recorded during a similar period of last year.

“Receipts from transport related activities increased due to growth in volume of transit goods to-and-from neighbouring countries particularly Zambia, DR Congo, Rwanda and Burundi”.