The Rwanda Development Board (RDB) has released its 2024 Annual Report, spotlighting a year marked by significant economic progress, resilience, and strategic growth across key sectors.
From record-breaking investment inflows to increased tourism revenues and export growth, Rwanda continues to strengthen its position as a premier destination for business, innovation, and sustainable tourism.
Key Highlights from 2024
Record Investment Commitments – USD 3.2 Billion
In 2024, Rwanda secured USD 3.2 billion in investment commitments—representing a 32.4% increase from the previous year and surpassing the national target of USD 2.4 billion. These investments, spanning manufacturing, renewable energy, agribusiness, and mining, are expected to create over 51,600 new jobs and position Rwanda for sustained economic growth.
Tourism Momentum Driving Revenue and Visibility
The tourism sector generated USD 647 million in revenue, with 1.36 million visitors welcomed throughout the year. Rwanda’s gorilla tourism saw a 27% increase in revenue, and the MICE (Meetings, Incentives, Conferences, and Exhibitions) sector generated USD 84.8 million. With 115 events hosted and over 52,000 delegates in attendance, Rwanda continues to reinforce its status as a global hub for sustainable tourism and international events.
Export Growth and Trade Facilitation
Exports grew by 22% to USD 4.2 billion, driven by strong demand in the UAE, Luxembourg, and other key markets. RwandAir’s enhanced cargo capacity contributed to a 33% increase in cargo exports. RDB supported more than 240 local companies to access new markets, unlocking USD 164.1 million in export revenues through capacity-building programs focused on certification, digital commerce, and regional integration.
Global Recognition for Business Reforms
Rwanda was ranked first in Africa and among the top 10 globally in the World Bank’s inaugural Business Ready (B-READY) report, affirming the country’s status as a top-performing economy for business reforms. This recognition reflects Rwanda’s continued efforts to streamline regulation, promote innovation, and attract high-value investment.
Looking Ahead: Ambitious Targets for 2025
In 2025, RDB aims to attract over USD 3 billion in new investments and surpass USD 700 million in tourism revenues. Strategic priorities include expanding Special Economic Zones, enhancing service delivery through digitization, and strengthening ecosystems for innovation, conservation, and entrepreneurship.
Rwanda is also set to host major global events, including the 20th edition of the Kwita Izina Gorilla Naming ceremony and the UCI Road World Championships—the first time the event will be held on African soil.
RDB CEO Jean-Guy Afrika remarked:
“As we reflect on a year of steady progress, I extend sincere gratitude to our partners, investors, visitors, and stakeholders. Your trust and commitment have been instrumental in positioning Rwanda as a global hub for business, tourism, and innovation. In 2025, we look forward to building on this momentum and advancing our vision for a dynamic, inclusive, and forward-looking Rwanda.”
