Insights and analysis
2017 may be a good time to invest in hotels in Africa
#DailyNugget: Travel and tourism account for 8.1% of Africa’s GDP
Published in
1 min readJan 5, 2017
Africa’s tourism sector quadrupled in size in less than 15 years, growing 4% in 2014 second globally to Southeast Asia (up 6%). Travel and tourism collectively are responsible for 8.1 per cent of Africa’s GDP and are forecast to rise at 4.9 per cent per annum until 2025. The hotel industry is keeping pace with this growth. For instance, Marriott International recently opened up the Kigali Marriott and announced signings of new properties in Cape Town, Nairobi, Cairo and Mauritius. However, projections point to cautious optimism among hotel developers due to economic conditions and the continent yet has some ground to cover in terms of service delivery.
