Forecasts and Market Trends for 2024
Frankfurt, 1st July, 2024. According to a recent report by the online platform Statista, Africa’s travel sector is expected to generate approximately 24 billion USD in revenue in 2024. With a projected annual growth rate of 4.98 percent, the market is anticipated to reach nearly 30 billion USD by 2028.
The largest market share is held by hotels, which are expected to generate around 12 billion USD in revenue in 2024. The number of hotel users is estimated to reach about 120 million by 2028.
The African Airlines Association (AFRAA) anticipates that African airlines will transport nearly 98 million passengers by the end of 2024, representing a 15 percent increase compared to 2023. Additionally, AFRAA reports operating revenues of 1.74 billion USD for March 2024, a 26 percent increase from the 1.39 billion USD in March 2023.
“The expected growth of the African travel industry will positively impact local employment, creating crucial jobs for the local population,” explains Hanna Kleber from Voice4Africa, a DACH initiative promoting sustainable tourism in Africa. According to the World Travel & Tourism Council (WTTC), more than 18 million new jobs are expected to be created in Africa’s travel sector over the next decade.
“The promotion of investments from both domestic and international sources is crucial for the further development of Africa’s tourism infrastructure,” emphasizes Kleber, founding member of the RethinkingAfrica (RTA) economic initiative, which advocates for European direct investments in Africa. Currently, Egypt, Nigeria, Morocco, Ethiopia, and Kenya are the African countries with the highest foreign investments in their tourism sectors, particularly in the hospitality industry.
Travel Preferences and Market Trends
African travelers are increasingly seeking unique and authentic experiences, driving demand for cultural and adventure tourism as well as tailored, immersive trips. This opens up opportunities for less-known regions like the seasonal floodplains of Kafue National Park in Zambia or remote areas in Botswana’s Okavango Delta. Sustainable and responsible tourism is becoming more prominent among travelers, creating new prospects for community-based ecotourism initiatives.
Countries like Kenya and Tanzania remain popular for their safari offerings in national parks and wildlife reserves. South Africa also attracts visitors with its cities, coastlines, and established wine regions. Emerging destinations in Southern Africa, such as Zimbabwe, recorded an over 150 percent increase in international arrivals in the first quarter of 2024.
In West Africa, countries like Ghana and Senegal are gaining popularity due to their vibrant music and arts scenes. Egypt’s historical sites, including the Pyramids of Giza and the temples of Luxor, continue to be top attractions on the African continent.
Africa’s Middle Class Discovers Their Continent
Economic growth in various African countries has strengthened the middle class and increased disposable incomes, enabling more people to travel both domestically and internationally.
Government initiatives to promote tourism, such as easing visa regulations and investing in infrastructure and marketing campaigns, are giving the African travel industry additional momentum.
About Voice4Africa
VOICE4AFRICA is an initiative of the KLEBER GROUP, a full-service PR agency with a special focus on tourism and many years of expertise in Africa. Together with African tour operators, the initiative promotes responsible tourism to Africa as a means of international understanding and a driver for sustainable development. Voice4Africa is the winner of the Corps Touristique Award for International Understanding 2023.
Press contact:
Hanna Kleber and Julia Kleber | Management
Friederike Galuschky | Senior Consultant Communications
Hamburger Allee 45
60486 Frankfurt am Main
Phone: +49 (69) 71 91 36 0
E-mail: hanna.kleber@klebergroup.com and julia.kleber@klebergroup.com / friederike.galuschky@klebergroup.com
Photo: Balloon safari in Masai Mara National Reserve (c) Kenya Tourism Board
