7th Annual edition: African Insights
The outlook provides an overview of how the hotel industry in South Africa, Nigeria, Mauritius, Kenya and Tanzania is expected to develop over the coming years. It also details the key trends observed and discusses the challenges facing the sector as well as it's future prospects.
The tourism industry continues to be one of the fastest-growing and most vibrant sectors of Africa’s economy. In spite of recent challenges, including the fall in oil prices, change in visa regulations in South Africa and contraction of the global economy, the sector has significant potential to create jobs, uplift inclusive economic growth across the continent, and reduce poverty.
Africa is steadily developing into one of the world’s great regions for travel. With its exceptional, unfiltered fusion of breath taking, life-inspiring offerings – history & heritage, culture & tradition, wildlife, natural beauty, and most importantly, the innate spirit of the continent’s people – Africa never fails to create an imprint on the minds and hearts of travellers from across the globe.
The revenue for the five markets as a group will increase at an 8.7% compound annual rate to R59.2 billion in 2021 from R39 billion in 2016.
We take a closer look at two emerging hotel markets, Ghana and Ethiopia. These two markets have seen an increase in international tourism over the past decade.