Kenya's climate change-related transport tax revenue has exhibited consistent growth over the last decade, rising from 121.28 million USD in 2013 to 441.86 million USD in 2023, a notable increase. The CAGR over the past five years stands at 3.59%. The years 2014 and 2017 saw significant year-on-year increases, but growth rates have stabilized to around 4% in recent years.
Future trends to watch for:
- The forecasted revenue growth from 2024 to 2028 shows a moderate CAGR of 2.85%.
- The focus on greener transport systems could introduce new tax policies impacting overall revenue growth.
- Monitoring how external factors like global oil prices and advancements in electric vehicle technology influence tax revenue will be crucial.
