Image: Unsplash / Harshil Gudka
Africa’s travel and tourism market is set to achieve a revenue of US$24.42 billion (R444.1 billion) by 2024, according to a report by Statista.
The market is anticipated to grow at an annual rate of 4.98%, reaching a volume of US$29.66 billion (R539.1 billion) by 2028.
The hotel sector is the largest within this market, with a projected volume of US$12.1 billion (R219.9 billion) by 2024. The number of users in the hotel segment is expected to increase to 119.5 million by 2028, with the user penetration rate rising from 13.2% in 2024 to 14.3% by 2028.
A significant trend adding to the African tourism revenue hike is the rise of online sales, which are expected to generate 75% of the total revenue in the travel and tourism market by 2028.
Accommodation services in this market include package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises. Each segment caters to different preferences and needs of travellers.
Hotels include stays in hotels and professionally run guest houses. Vacation rentals comprise bookings for private holiday homes and short-term rentals of private rooms or flats. Cruises cover multi-day vacation trips on cruise ships, focusing exclusively on passenger ticket revenues. Package holidays encompass travel deals that include travel and accommodation, often bundled with catering and tourist services. Camping includes bookings at camping sites for pitches using tents, campervans, or trailers.
These factors combined drive the growth of the tourism market in Africa.
Growing popularity of ecotourism in countries such as Ghana is increasing the demand for sustainable and responsible travel experiences. Political stability, security, and infrastructure development also play crucial roles in attracting tourists to the region, reads the report.
Prominent players in the sector include online travel agencies (OTAs) and specialised platforms like Hotels.com, Booking.com, and Airbnb. These platforms facilitate online bookings, contributing significantly to the market’s growth.
Globally, the United States is expected to generate the highest tourism revenue, projected at US$199 billion in 2024.
However, Africa’s unique landscapes, wildlife, and cultural heritage continue to draw a growing number of tourists, positioning its tourism market for substantial growth in the coming years.
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