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Which Counties Will Kshs 100 Billion Diaspora Money Go to?
As the number of Kenyans living abroad has increased so have their remittances to Kenya. Today the remittances are at about Kshs 100 billion. The interests of Diaspora Kenyans has mainly been in the real estate sector. This has led to banks and developers coming to the Diaspora to tap this money. However, today Diaspora are also organizing themselves to direct their money where it achieves the best return.
The passage of Kenya constitution 2010 saw 47 Counties created and the residents forming governments. Diaspora Kenyans who understand devolution in the U.S as the engine of the $17 trillion economy saw Kenya also growing for $50 billion just like the U.S did as it devolved units of settlement and management led to 50 states, counties, districts, cities and towns.
One group the Kenya University Project (KUP) has put their time and resources in understanding the counties and the constitution. Today KUP founders are at Taita Taveta County looking to create a new town settlement, institution of higher learning and tourism system that will lead to more than 1 million visits by tourists from the U.S.
Counties will have to see the Diaspora Kenyans resources as a resource they can tap. Today there are about 300,000 Kenyans living in the U.S who make an income of $15 billion. This Kenyans in U.S given the right products can put in close to $1.5 billion (Kshs 120 billion) every year as capital.
It is no secret that the U.S has the biggest resource of tourists. About a third of the 320 million population 100 million persons living in the U.S can be able to tour to Kenya for an average of 5 days. Many today tour the U.S for there are vast tourism opportunities from Vegas to Florida to Manhattan to D.C and many others. However Kenya counties can also create exciting tour opportunities.
Kenyans in Diaspora and Counties that would like to explore tourism can find a common opportunity. Kenya can reach 5 million day visits in one year from the U.S to Kenya. This is one area that the Diaspora capital can be used in a county that wants to grow this sector.