Friday, November 22, 2024 Africa’s hotel market is thriving, with revenue set to hit $15B by 2029. Rising online sales, ARPU, and unique travel trends drive this remarkable growth. Africa’s hotel industry is experiencing remarkable growth, with revenues projected to climb from $10.
6 billion in 2024 to $15 billion by 2029, marking an impressive annual growth rate of 7.2%. This outlook reflects a surge in demand for premium accommodations across the continent.
Online bookings are set to dominate, accounting for 77% of total revenue by 2029. Additionally, the average revenue per user (ARPU) is forecasted to reach $115.50, showcasing a rise in travelers’ spending capacity within the region.
Several African nations are positioning themselves as leaders in the hospitality sector. Egypt stands out with its booming hotel industry, driven by new developments and renovations that appeal to both domestic and international tourists. In East Africa, safari lodges and luxury camps, particularly in Kenya and Tanzania, are gaining popularity.
These unique offerings cater to the rising demand for experiential travel, combining luxury with natural beauty. Urban centers like Johannesburg and Lagos are witnessing an upswing in business-focused hotels, fueled by an increase in corporate travel. On the global stage, the U.
S. continues to dominate the hotel market, with an expected $111 billion in revenue in 2024. Other prominent regions include China, Japan, and the United Kingdom.
For Afric.
