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
British International Investment and Deutsche Bank launch a $150 million facility to support trade finance across Africa. The program...
Sanlam Maroc and Allianz Maroc approve merger, creating unified insurer Allianz Maroc absorbed; shareholders receive 5 Sanlam shares per 2 Deal...
African startups raised more than $272 million in February 2026, according to Africa: The Big Deal. Funding increased 56% from January, signaling...
KCB Group plans to acquire a stake in an Ethiopian bank as part of its expansion strategy. The investment depends on regulatory approval in Ethiopia’s...
Most Read
01

Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...

Togo Passes Law to Criminalize Counterfeiting of West African CFA Franc
02

Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...

Airtel Africa and Deloitte: A Seven-Year Relationship, $37 Million in Fees and a Planned Handover
03

CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...

Strengthening the Business Climate in WAEMU Countries: CCR-UEMOA Reviews Its Midterm Record
04

World Bank announces $137 million to boost West Africa digital economy Program expands broad...

Benin, Liberia and Sierra Leone Receive $137M to Expand Digital Access for 5.2 Million People
05

Tilenga oil project required land from 4,954 households in Uganda Over 99% of affected households...

Report details land compensation for nearly 5,000 households in Uganda’s Tilenga oil project
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.