Public Management

African Travel and Tourism Industry could contribute $168bn to GDP in the next decade (WTTC)

African Travel and Tourism Industry could contribute $168bn to GDP in the next decade (WTTC)
Monday, 06 November 2023 18:15

Emphasizing that the sector's growth pace could be accelerated, the report highlights the necessity for African governments to implement reforms, especially in areas such as enhancing air transport infrastructure, streamlining visa issuance, and robust marketing strategies.

The travel and tourism industry has the capacity to contribute an estimated $168 billion to Africa's GDP while generating about 18 million new jobs over the next decade. This is the finding of a report published on November 2 by the World Travel and Tourism Council.

The report entitled "Unlocking opportunities for Travel & Tourism growth in Africa” outlines an expected average growth rate of 5.1% per year, based on the current trajectory observed across the continent, almost twice as fast as the economy as a whole.

The document suggests that this pace of growth could be accelerated if African governments implement three key policies to unlock the sector's potential: improving air transport infrastructure, facilitating visa issuance and strengthening tourism marketing. The size of the African travel and tourism industry has more than doubled over the past two decades. At the start of the millennium, the sector was worth $75 billion. This figure reached $186 billion in 2019, or around 7% of the continent's GDP.

This remarkable growth has also led to the creation of several million new jobs. In 2019, the tourism sector employed 25 million people on the continent, compared with 12.3 million in 2000.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Cameroon prioritizes external debt to protect credit standing, delays local payments Domestic repayments to worsen in 2026 as IMF loan payback...
Government seeks CFA3104.2 billion in fresh financing for 2026 Funding need rises by CFA777.7 billion compared with last year Debt risk...
Spending plan reaches CFA8816.4 billion, up 14% from 2025 Special Accounts nearly double after creation of a new women and youth...
BoG cuts its benchmark rate to 18% from 21.5%, citing disinflation and better macro conditions. Inflation drops from 23.5% in January 2025 to 8%...
Most Read
01

(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...

MCB deploys strategic financing to Invictus Investment to scale up its agro-food operations in Africa
02

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
03

S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...

S&P Raises Zambia’s Foreign-Currency Rating to CCC+
04

Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...

Mauritania Advances Blockchain Policy to Modernize Digital Public Services
05

ECOWAS launched the second phase of PAMCIT to expand training in translation and conference inte...

Africa Turns to Multilingualism to Fill High-Skill Jobs
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.