Africa Will Be The Fastest Growing Travel & Tourism Market Over The Next Decade – WTTC

Africa Will Be The Fastest Growing Travel & Tourism Market Over The Next Decade – WTTC

From ftn news

World Travel & Tourism Council (WTTC) says that Africa is set to develop the world’s fastest growing Travel & Tourism market over the next 10 years, alongside Asia-Pacific. According to David Scowsill, President & CEO of WTTC, the growth of Africa’s Travel & Tourism industry is on course to reach 4.9% for the sector’s direct contribution to GDP over the next decade, equalling the growth of the Asia-Pacific region.

This unprecedented growth rate underscores the strength of the region’s potential compared to the estimated forecast increase in other regions of the world over the next decade – notably the Middle East 4.6%; the Americas 3.8%, Europe 2.8% and the overall worldwide growth 3.9%.

Scowsill says: “The world has mostly been focused on Asia-Pacific as the fastest growing region, but our latest figures demonstrate the potential in Africa’s Travel & Tourism industry, which is ripe for investment. However, the region’s current forecast of 4.5% growth in Travel & Tourism capital investment per year over the next ten years is still well below the growth for investment in the Asia-Pacific region, forecast at 5.7%, and the world overall.

“Africa is home to some of the fastest-growing economies. Tremendous opportunities exist to further expand tourism across the African continent, yet growth doesn’t happen by itself and challenges remain. To fully realise the expanded potential, African nations must collectively focus on four key areas: first, expanded investment in tourism infrastructure; second, improved connectivity and air liberalisation – a move towards a fairer open skies policy; third, common visas across multiple countries: and fourth, investment in human capital to build the capacity and skill set of the workforce. The economic potential of tourism in Africa is remarkable but for this to materialise it is critical that individual nations strengthen their unique branding positions to help fulfil the forecasted growth.”

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