Rwanda Development Board’s (RDB) 2024 report spotlights 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. ALSO READ: Rwanda’s tourism generates $647m in 2024, targets over $700m in 2025 RDB CEO Jean-Guy Afrika said: “In 2025, we look forward to building on this momentum and advancing our vision for a dynamic, inclusive, and forward-looking Rwanda.” ALSO READ: China, India lead Rwanda’s foreign investment list in 2024 1. Record investment commitments – USD 3.2 billion In 2024, Rwanda registered $3.2 billion (approx. Rwf4.48 trillion) in investment commitments, marking an increase of 32.4 per cent from investment recorded in 2023, according to RDB. 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. 2. Tourism momentum driving revenue and visibility The tourism sector generated $647 million (approx. Rwf923billion) 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 $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. 3. Export growth and trade facilitation Exports grew by 22% to $4.2 billion, driven by strong demand in the UAE, Luxembourg, and other key markets. National carrier RwandAir’s enhanced cargo capacity contributed to a 33% increase in cargo exports. ALSO READ: What’s driving Rwanda’s export growth? RDB supported more than 240 local companies to access new markets, unlocking $164.1 million in export revenues through capacity-building programmes focused on certification, digital commerce, and regional integration. 4. 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, according to RDB. 5. Ambitious targets for 2025 In 2025, RDB aims to attract over $3 billion in new investments and surpass $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.
