Africa’s Travel & Tourism Set to Boost Economy by $168BN in a Decade: WTTC Reports
AFRICA TRAVEL & TOURISM SECTOR POISED TO BOOST CONTINENT’S ECONOMY BY $168 BILLION, CREATING 18 MILLION JOBS, REVEALS WTTC REPORT IN COLLABORATION WITH VFS GLOBAL.
Anew report reveals significant growth opportunities for Travel & Tourism in Africa. The World Travel & Tourism Council (WTTC), in partnership with VFS Global, disclosed that the sector could boost the continent’s economy by $168 billion in the next decade, creating 18 million new jobs.
This potential hinges on three key policies, aiming for an annualized growth of 6.5% and a contribution of over $350 billion. These policies revolve around improving air infrastructure, visa facilitation, and tourism marketing.
In 2019, Travel & Tourism contributed more than $186 billion to African economy, with 84 million international travelers. It’s also a crucial source of employment, supporting 25 million jobs, or 5.6% of all regional employment.
Leaders Emphasize Growth Potential and in Africa’s Travel & Tourism Sector
Julia Simpson, WTTC President & CEO, emphasized the sector’s transformation, doubling in value in just two decades. She underlined the vast growth potential, emphasizing the need for simplified visas, better air connectivity, and robust marketing campaigns to showcase Africa’s destinations.
Zubin Karkaria, Founder & CEO of VFS Global, expressed excitement about the partnership and Africa’s Travel & Tourism potential. VFS Global has been operating in Africa since 2005, serving 38 governments across 55 cities in 35 countries.
Despite past challenges like the 2008 Global Financial Crisis and disease outbreaks, the Travel & Tourism sector is on the path to recovery, with 2023 projected to be a year of near-full recovery, approaching 2019 levels and creating 1.8 million jobs.
The report highlights opportunities, including strategic investments, improved connectivity, streamlined visas, low-carbon energy adoption, and water efficiency. These initiatives could unlock sustainable growth, job creation, and economic development in Africa’s Travel & Tourism.
In conclusion, Africa’s Travel & Tourism sector presents immense potential for economic growth, job creation, and sustainable development. With the right policies and investments, the continent can further harness this powerhouse industry for its benefit.
