What Is The Value Of The African Tourism Industry?

The Travel and Tourism market in Africa is expected to reach a revenue of US$23.37bn by 2024, with an annual growth rate of 7.49, resulting in a market volume of US$33.54bn by 2029. South Africa’s tourism industry is projected to create 3.8 million jobs, including 2.4 million indirect jobs, over the next decade. The industry contributes 7.1 percent of Africa’s GDP in 2018, making it one of the most important industries in Africa.

In 2022, travel and tourism contributed 5.9 percent to Africa’s GDP, up from 4.4% in the previous year. 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. 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.

The sector was worth $75 billion at the start of the millennium, reaching $186 billion in 2019, or around 7 of the continent’s GDP. In 2019, the industry accounted for about seven percent of Africa’s GDP and contributed $169 billion to its economy. Before the pandemic, the Travel and Tourism sector’s contribution to the region’s GDP was 6.8 (US$182.4 billion) in 2019, falling to just 3.8.

South Africa’s tourism revenue reached 217 USD mn in May 2024, compared with 220 USD mn in the previous month. As of 2023, the income generated from tourist accommodation in South Africa amounted to nearly 30.2 billion South African rand (just over 1.6 billion U.S. dollars).

Which country has the biggest tourism industry?

Europe is the top 10 economy for travel and tourism, with the US retaining its top spot. The pandemic has led to a surge in passenger numbers, but the recovery has been uneven. The top three countries for travel and tourism are the US, Spain, and Japan, according to the World Economic Forum’s Travel and Tourism Development Index. The pandemic has also exacerbated restrictions and enforced staying at home, forcing many to stay at home.

The growth of digital technologies and AI may force the travel industry to adapt, as pressures amplify and evolve over the coming years. The top three best-placed countries for travel and tourism are the US, Spain, and Japan.

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.

What is the size of the African market?

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 big is the tourism market in Africa?

The travel and tourism market in Africa is projected to reach a revenue of $29. 66 billion by 2028, with the hotel sector being the largest contributor. The market is expected to grow at an annual rate of 4. 98, reaching a total volume of $12. 1 billion by 2024. The hotel segment is expected to have 119. 5 million users by 2028, with a user penetration rate rising from 13. 2 in 2024 to 14. 3. Online sales are expected to generate 75 percent of the total revenue by 2028. Other sectors include hotels, vacation rentals, and cruises, which focus on passenger ticket revenues.

How much of Africa’s GDP is tourism?

The contribution of the travel and tourism sector to the region’s gross domestic product (GDP) experienced a notable decline from 6. 8 in 2019 to 3. 8 in 2020, representing a 47. 1% reduction. This trend suggests that the pandemic had a considerable impact on the regional economy.

Which country has the highest GDP from tourism?

In 2023, the United States surpassed pre-pandemic levels in terms of travel and tourism contribution to GDP, with a total of 2. 36 trillion U. S. dollars. China and Germany followed closely, with travel and tourism contributing around 1. 3 trillion and 488 billion U. S. dollars, respectively. The total contribution of travel and tourism to global GDP reached just under 10 trillion U. S. dollars in 2023. GDP, the total value of goods and services produced in a country in a year, is a crucial indicator of a country’s economic strength.

How rich is African culture?

African culture is diverse and centered on family, with each ethnic group expressing their culture through art, music, and oral literature. Throughout Africa, people speak various languages, practice various religions, and live in different dwellings. The majority of Africans are indigenous, but people from around the world have migrated for centuries. Arabs arrived in North Africa in the 7th century A. D., bringing Islam.

Europeans settled in the southern region in the mid-17th century, and South Asians settled in Uganda, Kenya, Tanzania, and South Africa. Over time, African culture has merged with global cultures, but traditional African customs remain.

Why is Africa famous for tourism?

Tourism is a significant economic sector for many African countries, including Kenya, Uganda, Algeria, Egypt, South Africa, Morocco, Tunisia, Ghana, and Tanzania. Africa’s unique tourism features include diverse points of interest, diverse landscapes, rich cultural heritage, and an ecotourist industry. African countries have been investing in their tourism markets since the late 1960s and 1970s, with different levels of development. The Tourist Area Life Cycle (TALC) model, categorized by Butler’s 1980 model, describes six stages of tourism development: exploration, involvement, development, consolidation, and stagnation.

A 2011 World Bank study classified African countries into four performance groups based on indicators such as business environment, tourism regulation, infrastructure, resources, tourism income, number of visitors, and market potential growth.

How much is the African creative industry worth?

Africa’s creative sector has grown significantly, with the film and music industries becoming global hubs. Nigeria’s Nollywood has become the largest center of film production globally, following the United States and India. African film festivals have expanded, with 12 new events added over the past two decades. Established events like the Durban International Film Festival (DIFF) and Marrakech International Film Festival have become well-known international events.

African music has also seen growth, with most successful artists and distributors coming from west Africa, followed by southern and north Africa. The local music market is expected to account for US$1. 7 billion by 2023, with Nigeria and Kenya generating $33 and $30 million respectively. Digital communications have allowed for mass content distribution to a growing continental audience.

African visual art has also gained popularity, with organized exhibitions providing commercial inlets for an increasing number of artists across the continent. Examples include 1-54, which hosts exhibits in New York, Marrakech, and London, and Art X, based out of Lagos. Sotheby’s generated US$3 million in April 2019 with its African art exhibition, largely due to local buyers.

In conclusion, Africa’s creative sector has experienced significant growth, particularly in the film and music industries. The region’s youth demographic and the rise of digital communications have contributed to its success.

What is the value of tourism in Africa?

In 2022, travel and tourism contributed 168 billion U. S. dollars to Africa’s gross domestic product (GDP), representing a 40% increase from the previous year. This represents an increase of 9% in comparison to the previous year. Nevertheless, this expansion was less pronounced than the 186 billion U. S. dollars recorded in 2019. It is projected that travel and tourism will contribute approximately 183 billion U. S. dollars to GDP in 2023. To access premium statistics, a paid Statista account is required.

What is Africa’s biggest industry?

Most of Africa’s economy is underdeveloped, with abundant natural resources but a predominantly agricultural focus. Subsistence farming still employs over 60% of the population. Until the early 20th century, farming relied on simple tools, traditional family organization, and poor transport and communication. Long-distance trade was limited due to the small size and heterogeneity of polities. However, western Africa had long-distance trade and elaborate exchange facilities.

Africa experienced significant economic development during the 20th century, but it also led to serious problems. Under colonial rule, wage labor was introduced, transportation and communications improved, and resources were widely developed. However, the export of major agricultural products or minerals, such as peanuts, petroleum, or copper, has become the primary source of foreign exchange earnings for most African countries. Fluctuations in commodity prices have made these economies vulnerable and fragile, especially in marginal dryland zones where drought conditions have undermined agricultural productivity.

In conclusion, Africa’s economy is underdeveloped, with subsistence farming still affecting over 60% of the population.