Thursday, February 22, 2024

New report shows how tourism in Africa can boost its economy by $168bn

At its Global Summit in Kigali, the World Travel & Tourism Council (WTTC), in collaboration with VFS Global, revealed that the African Travel & Tourism sector could add $168bn to the continent’s economy and create over 18 million new jobs.

According to the report, ‘Unlocking Opportunities for Travel & Tourism Growth in Africa’, this potential growth is dependent on three key policies to unlock annualized growth of 6.5 per cent, reaching a contribution of more than $350bn.

The report includes a policy package focused on improving Africa’s growth based on air infrastructure, visa facilitation and tourism marketing.

Travel & Tourism is a powerhouse sector in Africa, with a contribution of more than $186bnBN to the region’s economy in 2019, welcoming 84 million international travelers.

The sector is also essential for employment, providing livelihoods to 25 million people, equating to 5.6 per cent of all the jobs in the region.

Speaking at the global tourism body’s Global Summit in Kigali today, Julia Simpson, WTTC President & CEO, said: “Africa’s Travel & Tourism sector has witnessed an extraordinary transformation. In just two decades, it has more than doubled in value, significantly contributing to the continent’s economy.

“Growth potential for Travel & Tourism in Africa is massive. It has already more than doubled since 2000, and with the right policies could unlock an additional $168 billion in the next decade.

“Africa needs simplified visa processes, better air connectivity within the continent, and marketing campaigns to highlight the wealth of destinations in this breathtaking continent.”

According to Zubin Karkaria, Founder & CEO, VFS Global, “We are excited to partner with WTTC to uncover the extensive opportunities that Travel & Tourism offers in Africa.”

“Having established our presence in Africa since 2005 we are today the trusted partner of 38 governments who we serve across 55 cities in 35 countries in Africa.  VFS Global recognizes the tremendous potential of Africa and remains deeply committed to supporting the continuing development of travel and tourism to and from the continent.

“This report not only highlights the diverse prospects for economic growth, sustainable tourism, and cross-cultural collaboration but also provides valuable insights for governments to formulate policies and offers businesses a well-defined roadmap for expansion in this thriving market.”

This report delves into the historical journey of the Travel & Tourism sector in Africa. It’s a story of facing challenges head-on, from the Global Financial Crisis in 2008 to the setbacks caused by disease outbreaks, and political instability.

Despite all of these challenges, the Travel & Tourism sector is on a path to recovery.

According to the global body, 2023 is projected to be a year of near-full recovery, only 1.9 per cent shy of 2019 levels, as well as the creation of an additional near 1.8 million jobs.

Opportunities for Africa

The report highlights the opportunities for the sector, which include strategic investments improved connectivity, streamlined visa processes, reducing carbon footprint through low-carbon energy adoption, and enhancing water efficiency.

These could unlock the potential for sustainable growth, job creation, and economic development in the African Travel & Tourism sector.

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