The Growth of the Tourism Market in Africa

Africa’s travel and tourism market is set to achieve a revenue of US$24.42 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 $29.66 billion by 2028.The hotel sector is the largest within this market, with a projected volume of $12.1 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. 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.

GETAWAY