Business

Africa Tourism Set for Sustained Growth

A view of Lake Albert from Mweya Safari Lodge, Queen Elizabeth National Park.

The Hotel and Tourism industry in Africa is beginning a period of sustained growth, physician http://chios.ro/wp-content/plugins/contact-form-7/admin/admin.php according to the sector’s leading experts at the Africa Hotel Investment Forum in Addis Ababa.

The Hotel Sector reported significant expansion, hospital http://ctabuenosaires.org.ar/wp-content/plugins/jetpack/json-endpoints/class.wpcom-json-api-render-embed-reversal-endpoint.php as well as increased visitor numbers, link boosted by demand from African business.

The 2015 African Hotel Valuation Index, released at the conference revealed that the African hotel sector was becoming less reliant on foreign visitors with increased demand from local businesses.

The Index showed African hotel brands such as Azalai, City Lodge and Protea were trading well, with a number of hotel investors showing faith in the continent.

Now in its fifth year, The Africa Hotel Investments Forum (AHIF), brought together over 500 leading international hotel investors, local operators, ministers, government officials and industry experts from around 40 countries.

ForwardKeys, a company which monitors future travel patterns by analysing 14 million reservation transactions each day revealed that there was an increase of 6.4% in international arrivals in September in Sub-Saharan Africa.

The upturn marked a turning point after the ebola outbreak, which had wiped out four years of strong growth.

According to ForwardKeys, flight bookings for the next six months suggest a sustained recovery.

The data shows arrivals on-the-book (bookings for travel in future) from October 2015 to March 2016 are now running 4% ahead, compared with the same period last year.

The African Hotel Report 2015 revealed the growing opportunities for investment in hotels on the continent

According to the report, Nigeria heads the list with the strongest economy, but with only 34 branded hotel bedrooms per million population.

Uganda’s Tourism Sector

According to annual tourism sector performance review released recently, Uganda’s tourism sector contribution to Gross Domestic Product (GDP) in the financial year 2014/15 increased to Shs6.3b up from Shs5.6b the previous year.

The growth translates into 9.9% contribution to GDP (Shs96.7 trillion), up from 7.9% in 2013/14.

The new figure is as a result of an increase of visitors (1,266, 046) who came to Uganda in 2014 up from 1,206,334 in the previous year, which ministry of Tourism officials attribute to better marketing of the country and improvement in infrastructure, among others.

The sector’s contribution to the economy was 7.9% of GDP in 2013 and rose to 9.9% of GDP in 2014.

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