How Much Money Does Africa’S Tourism Sector Bring In Annually?

The tourism sector is responsible for 8.8% of the world’s jobs, 9.1% of the world’s GDP, 5.8% of the world’s exports, and 4.5% of the world’s investment. In 2022, Egypt ranked first in Africa with international tourism receipts of 12.2 billion U.S. dollars, followed by Morocco and South Africa with nine and 4.8 billion U.S. dollars respectively. Africa’s travel and tourism sector has more than doubled in value in the past two decades, contributing 5.9 to Africa’s GDP and generating approximately 168 billion U.S. dollars.

In 2019, travel and tourism contributed 168 billion U.S. dollars to Africa’s Gross Domestic Product (GDP), a 40.9% increase from the previous year. South Africa and Kenya received the largest amounts of tourism-focused investment at $6.1 billion and $404 million, respectively. Tourism is one of the most important industries in Africa, contributing 8.5 (or $194.2 billion) of the continent’s GDP in 2018, and is expected to reach a revenue of $23.37 billion by 2024.

In 2019, Africa’s travel and tourism sector employed over 24 million people and accounted for about 7 percent of Africa’s GDP, contributing $169 billion to its economy. By 2030, consumer spending on tourism, hospitality, and recreation in Africa is projected to reach about $261.77 billion, $137.87 billion more than in 2015. Egypt leads the charge for most international tourism receipts in Africa, recording $12.2 billion in tourism revenue as of 2022.

Travel and tourism’s GDP is forecasted to grow at an average rate of 6.8 annually between 2022-2032, more than twice the rate of capital investment in 2011-2014. Tourism to Africa more than doubled from 6.7 million visitors in 1990 to 33.8 million visitors in 2012, with tourists spending US$36 billion and a total of US$528 billion.

Which African country is leading in tourism?

In 2024, South Africa was the highest-ranked African country in the Travel and Tourism Development Index, with a score of approximately 4 points. Subsequently, Mauritius attained a score of 3. 98, with Egypt and Botswana following closely behind with 3. 96 and 3. The respective scores were 71 points. To access Premium Statistics, a paid Statista account is required, which includes immediate access to all statistics and source references.

What is the tourism performance in Africa?

Africa experienced a recovery of 96 pre-crisis arrivals in January-December 2023, compared to the world average of 88. This follows a 69 recovery in 2022, with robust demand from European markets. Africa was the second-best performing region in 2023, with North Africa, Southern Mediterranean Europe, the Caribbean, and Central America among the four world subregions to recover pre-pandemic levels. Ethiopia, Tanzania, and Morocco exceeded their 2019 arrival numbers through October and November 2023.

The region also saw a buoyant recovery in international connectivity to Europe and the Middle East and on intra-regional routes. In terms of receipts, Africa recovered 83 of pre-pandemic earnings, compared to 75 for the world in 2022. The G20 Tourism and SDGs Dashboard was created by UNWTO and India’s Ministry of Tourism to promote the sector’s contribution to achieving the 17 Sustainable Development Goals.

How much income is generated by tourism?

The international tourism receipts of India for the period between 2011 and 2022 were reported in billions of U. S. dollars. Access to the statistics is restricted to those provided at no cost, with no mention of any premium statistics. The account is subject to an annual contract, with the price reverting to the standard rate after a period of one year.

How much money does Africa make a year?

In 2023, the gross domestic product (GDP) of the African economy was estimated at 3. 1 trillion dollars (nominal) and 8. 86 trillion dollars (purchasing power parity (PPP)), ranking fifth in PPP and fourth in nominal terms. The country’s GDP growth rate is 3. 7%, with a GDP per capita of $1, 740 (nominal) and $5, 360 (PPP). All values are expressed in U. S. dollars.

How much does Africa make from tourism?

In 2022, Egypt was the leading destination in Africa in terms of international tourism receipts, with a total of 12. 2 billion U. S. dollars, followed by Morocco and South Africa, which received 9 and 4 billion U. S. dollars, respectively. In comparison, Morocco and South Africa received 8 billion U. S. dollars, respectively. The aggregate tourism receipts of the selected African countries was approximately 40 billion. The total amount of revenue generated by international tourism in the United States was 2 billion U. S. dollars. Please note that access to premium statistics requires a paid Statista account.

Who is the richest country in Africa?

Mauritius, the richest country in Africa, has diversified its economy beyond traditional sectors like sugar and textiles, making it the fastest-growing economy in the world. Africa, known for its diverse cultures and landscapes, also boasts some of the world’s fastest-growing economies and richest countries. This article explores the top richest African countries, their economic strengths, natural resources, and factors driving their financial success on regional and global stages.

How much does tourism make a year in South Africa?

The travel and tourism industry made a significant contribution of 13. In 2021, the sector contributed 2 billion U. S. dollars to South Africa’s GDP. However, its contribution declined by almost half compared to 2019, a decline that can be attributed to the impact of the global pandemic. In 2019, the contribution of tourism to the South African economy was approximately 27 billion U. S. dollars. This equates to a value of 4 billion U. S. dollars. Access to all statistics is available for a fee of $1, 788 USD per year, with premium statistics not included.

How big is the travel market in Africa?

The Travel and Tourism market in Africa is expected to reach a revenue of $23. 37 billion by 2024, with an annual growth rate of 7. 49, resulting in a market volume of $33. 54 billion by 2029. The largest market is hotels, which is projected to have a volume of $10. 60 billion by 2024. The market size is determined using a bottom-up approach, evaluating markets using financial reports, the Global Consumer Survey, third-party studies, industry associations, and price data.

Key market indicators and data from country-specific associations are also used to estimate the market size for each country individually. Forecasting techniques, such as ARIMA, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods, are used to estimate the market size. The main drivers of the market are tourism GDP per capita and respective price indices.

Is tourism in Africa growing?

International tourism receipts reached USD1 trillion in 2022, a 50% growth compared to 2021. African destinations like Ethiopia, Tanzania, and Morocco exceeded pre-pandemic levels in January-July 2023. At the 66th meeting of the UNWTO Regional Commission for Africa, tourism leaders from across Africa met to rethink the sector’s role as a driver of development and opportunity. They focused on opportunities around tourism jobs and investments while addressing challenges like the climate crisis.

Does tourism have a future in Africa?

Africa’s tourism sector is poised for growth if visionary strategies and robust investments are implemented to harness the continent’s unique tourist allure. With the right steps, Africa can offer more top destinations for tourists, according to Daniel Trappler, senior director at Radisson Hotel Group’s development sub-Sahara Africa. The API Hospitality and Residences Forum is a key platform for the hospitality industry, known for its dealmaking, networking, and unique insights.

How much does tourism make a year?

The US travel and tourism industry is a significant contributor to the economy, with international visitors spending $233. 5 billion in 2019 and contributing nearly $640 million a day. The industry generates $1. 9 trillion in economic output, supports 9. 5 million American jobs, and accounts for 2. 9 of the US GDP. The International Trade Administration supports the industry through its National Travel and Tourism Office (NTTO) and the U. S. Commercial Service, providing data and related products to support international outreach and promotion efforts.

With over 100 offices in the US and 75 countries worldwide, the NTTO promotes US policies that encourage competitiveness, provides business counseling, match-making, and promotional support services, ensures that regulations do not adversely impact industry competitiveness, and provides information, trade data, and market analysis to the industry, partners, and policy makers. Maintaining close relationships with the industry helps enhance its competitiveness and overseas profile.