Kenya Economy Kenya's Economy Assessing the Economic Essay

Kenya Economy

Kenya's Economy

Assessing the economic situation in Kenya in terms of its desirability for foreign businesses is a somewhat complex task, not nearly as straightforward as it can be in many other nations. The mixture of progress, opportunities, and significant threats and hindrances in the country make it seem quite attractive to foreign business entities in certain ways, while at the same time the prospects these businesses face are less definite and secure than is typically desired. In terms of pure economic growth, Kenya appears to be doing quite well both in absolute terms and when compared to the rest of the world -- and extremely so when compared to the bulk of the African continent, and especially sub-Saharan Africa. GDP growth faltered during the years of the global recession, as would be expected, but Kenya's economy seems to have suffered less and has begun to recover faster than many other nations.This means that a consumer class and culture continues to emerge and develop in the nation, providing a market for international businesses, and is fueled by government support for foreign investment and a growth in business that offers protection for new businesses moving into the country. Foreign businesses entering Kenya can also take advantage of the high number of English-speaking professionals and increasingly tech-savvy skills.

All of these factors make Kenya an attractive prospect for many different types of business that are looking for a cheap yet reliable place to set up operations and/or a point of entry to the African continent. At the same time, there is still a fair amount of social instability within the country, and its financial and governmental stability are also relatively new. The situation runs the risk….....