Africa Forecast as 2nd Fastest-Growing Tourism Region in 2024
According to a recent report by Africa Outlook, Africa is poised to be the world's second-fastest-growing tourism region in 2024, driven by a resurgence in travel and investment. This positive momentum is reflected in the latest African Hotel & Hospitality Confidence Index, which showed 80% of industry respondents looking ahead with growing confidence and optimism.
The report predicts that Africa's travel and tourism industry will be fuelled by a growing middle class and a projected CAGR of 8.9% or $731.4 billion by 2032 in the "bleisure" market. To meet this surging demand, the hospitality sector is expected to see increased investment and innovation.
The latest African Hotel & Hospitality Confidence Index echoes this optimistic outlook, with one in four businesses already using AI tools to enhance their operations. As sustainability and technological transformation shape the industry, Africa's hospitality journey as a vibrant international destination is poised for substantial growth in the year ahead.
Source: Tourism News Africa