The hotel and hospitality sector continues to show signs of resilience and growth, with positive prospects ahead. According to the 2023 Hotel and Hospitality Industry Confidence Index, participants across the continent are optimistic about the future of the industry.
Projections from Statista support this perception and confirm a projected Average Annual Growth Rate of 8.68% for the sector over the next five years, with hotel market revenue in Africa predicted to reach US$13.80 billion by 2027.
This positive outlook on growth in the sector was high on the agenda at the recent Hotel & Hospitality Show which took place from 18-20 May 2023 at the Sandton Convention Centre in Johannesburg.
Moore Global has also shared two commentaries on the report:
Walid Tarabay, Managing Director at Spring Tours Egypt talking about Egypt travel Business that starting to show noticeable recovery
Louise Cottar, Chief Executive Officer at Cottar’s Safaris talking about Kenya hospitality leader repositioning for the future.