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
Retail investors in Cameroon invested 25.9 billion CFA francs ($45.9 million) in government securities as of Jan. 31, 2026. Retail participation...
Nigeria introduced a 1% flat tax on the turnover of informal-sector businesses under a new presumptive tax framework. Authorities exempt nano and small...
Investment firm Phatisa has sold its majority stake in Zambia’s egg producer Goldenlay. Belgian animal feed company Vanden Avenne acquired the...
Ghana has signed a debt restructuring agreement with Belgium, its eighth such deal with external creditors. The agreement forms part of the country’s...
Most Read
01

Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...

Senegal Launches $360 Million Regional Bond Sale
02

Military escalation between Iran, Israel, and the United States has raised the risk of disruptions...

As Hormuz and Suez Tensions Escalate, Africa Faces a Potential Energy and Trade Shock
03

Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with...

Nigeria Advances Banking Reform With Strong Recapitalization Progress
04

DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...

DRC seeks ITC support to advance battery mineral value chains
05

Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...

Algeria’s NESDA, ASICOM Sign SME Investment Deal; Funding Details Unspecified
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.