_Africa Hospitality Snapshot 2017

Following the Africa Hotel Investment Forum (AHIF) and as a prequel to our Africa Hotels Insight (to be released in January 2018) Knight Frank has produced its inaugural hospitality snapshot to highlight the key developments of this rapidly growing sector across 13 selected hospitality hotspots.

October 19, 2017

Africa Hospitality Snapshot – Key Findings

 GDP across our selected 13 African countries has increased by 64% on average over the decade to 2016

 Countries with established tourism hotspots across the continent continue to invest in and grow their exposure to the international tourism sector, in part, as an effort to diversify the sources of future economic growth due to the recent falls in commodity prices

 New tourism hotspots across Africa are beginning to emerge, with global operators already increasing exposure to these locations

 Business tourism and leisure tourism spending across our selected 13 countries is expected to grow on average by 63% and 59% respectively

 Business tourism spending is projected to increase by 131% over the next decade in Rwanda and 118% in Tanzania

 Leisure tourism spending is forecast to increase by 120% over the next decade in Kenya and 81% in Tanzania

 Across our selected 13 countries tourism is forecast to contribute 10% on average to GDP by 2026

For further information please contact Taimur Khan.