For being the second largest Continent on earth, Africa has a wide range of options for hotel development in many of its regions having more space for expansion and capital growth. The middle-class population is estimated to be near 350 million people by the African Development Bank. A portion of this population holds the probability to be potential travelers. These people can benefit the economy. The tourism and travel industry has an important part in keeping up with the rising number of travelers. Hotel development has been affiliated with advanced economies in countries like South Africa, Rwanda, Kenya, Tanzania in comparison to a mire of the West African countries while there is a noticeable development in the major cities lately.
West Africa is the most densely populated area in entire Africa. It may be a bit difficult to travel here but it is potentially rewarding in many ways. Though the communication system was not advanced that along ago compared to other countries, but it is upgrading day by day. Most of the fast-growing countries in Africa are full of youth. About two-thirds of the population here is under the age of 30. Most of the major cities here have a lot of facilities along with some downsides.
Exotic spots are getting the hot attention in West Africa as hotel investment and development have seen an increment. Popular tourist attraction spots are relatively more crowded than before. What attracts tourists here are the landscape and the diverse range of species. Regions such as Ivory Coast, Senegal, Ghana, and Nigeria have grown more attractive over the years not just for opportunities that they have unfolded but also for security and political stability. Also, West Africa has the fastest growing economy with countries like Nigeria leading the way to development. Governments are putting significant efforts to promote areas to get more tourists. Just the previous year there was a 1-billion-dollar investment in Ivory Coast’s tourism sector. This expansion has been consistent ever since backed up by domestic and regional tourism as well as International operators stepping.
West Africa has become one of the most promising regions for hotel development and tourism in the past couple of years according to the data collected from government agencies. Groups like Accor, Hilton, Marriot and Radisson have widely spread their business in hotels by opening 2800 rooms along with deal for 6600 rooms more. And other big companies specially from the middle east are exploring the potential tourism industry that can be formed. Therefore, projects are multiplying at a constant rate.
Countries like Nigeria are rising destinations for tourism by leading the whole industry. This development has attracted enormous investments that are also playing a crucial in developing big cities. In other words, people and their surroundings are quickly adapting to the modernized society and changing their lifestyle. This has created interest in international travelers to come to Africa and the easy and simple access to international routes they are starting to arrive here.
One of the main reasons to invest here is because of the diversity that West Africa represents to the world in terms of landscape, food and wildlife. The view here is unique consistently where each scenario comes with a different story. Also, West Africa comes with a promising variety of food. You can enjoy the unique signature dishes that has been passed down from generation to generation along with modern dishes that present variety. And the wildlife that is coexisting with nature for longer than humans can remember. Having to experience these animals is an experience second to none. All these together make the West African region a place worth spending time and money too.
The world tourism monitoring agency has said the West African tourism industry is one of the most fasting growing industries in the world.
According to the 10-factor tourism development Ivory Coast, Senegal, Ghana and Nigeria markets are trending, though over the years’ excessive usage of fossil fuel downgraded the growth of economy. Therefore, in markets like Ghana and Ivory Coast there was a rise in demand for more improvement. These countries had about 6% growth in 2019 with room for more development in the future. We can see the same promises in the Senegalese market, but in perspective to the other markets the performance here has been low.
Stability has played an important role in terms of countries that have performed better and ranked higher by providing better security, better livelihood, gaining more popularity, and giving everyone something to look up to. These countries implemented their resources with precision and by design. Consequently, investors in the underperforming countries face higher risks, but the generated profit help maintain stability for the days to come.
Improvising on specific lifestyle hotel products opens a wide circle of options and creates the chance to aim for travelers both who travel domestic and from abroad. These hotels highlight the most exotic domestic locations that pull the foreigners to enjoy a delicate time. Everyone leans towards luxury when it comes to a different soil or in their own house. Lifestyle hotels focus on those points to provide a feeling like no other. Allowing the person to take home an experience unforgettable. Also, it is good promotion.
Lifestyle hotels are made to give a person a remarkable and memorable experience who choose to travel, what is most preferred here is lobbies which are Multi-functional with a taste of unique layout that stands out. Widely open with a unique menu and beverages for all with themes that are strong.
Despite being old, dual-branded properties are still attractive to a lot of operations for being a lot reliable. These properties have a similar reservation process that helps hoteliers to show diversity and capture attention. West African soil is perfect for this kind of infrastructure; not only will this give a person an above-average experience but it is also an opportunity to shine for the tourism department.
Dual-Branded properties are relatively more complex than single-branded properties. Developers need to focus on satisfying the requirements of both brands. Primarily focusing on public space and as much as open as possible. Different and unique designs to meet up with brand standards along with simple transitions among different spaces on urban areas using mixed developments.
The current tourism industry makes up about 4.04 billion dollars, of which The Ivory Coast Contributes about 86% from its well-established domestic market. Corporate spending controls this market. Thought Leisure segment is shaped by the impact from the taken initiatives to provide a better future. For instance, the “Sublime Cote d’Ivoire” initiative was launched in hopes to increase the global exposure of countries back in 2019 with a 5-billion-dollar budget from Investors in the middle east upon close observation on the opportunities that the western Ivory Coast offers to the industry and what it can be given the proper attention with its untapped land with mountains and beautiful beaches a perfect scenario that makes your leisure more delicate for yourself or with your loved ones.
Most resorts are designed inspired from the location it is situated in and based on the surroundings so that it uplifts that unique experience. So an exotic destination is a primary requirement to building a resort that international travelers are attracted to, or at the least find exciting enough to visit. The west African region comes with that promise. This flow is operated by international resort operators that ensure quality to everyone who visits the resort. Also highlighting and promoting leisure travel based on EWAA through combining natural beauty with agricultural production.
COVID-19 has affected almost all the markets around the globe. African markets were no exception. It has surely been a setback for tourism making travelling unsafe with social distancing and many bans on international travelling. These rules have put a significant impact on the industry to rethink their strategy and focus more on safety. A good number of precaution is taken to minimize contamination and the spread of COVID-19 but even still a lot of the travelers are still skeptical about going to other countries. However, it is possible as much as difficult it may sound, to handle the overall situations with the right set of decisions. And now there is a chance for the industry to turn for the better again as new vaccines are given to people. But even then the industry should maintain strict policies about social distancing and keeping things as much as clean as possible to avoid a large spread out.
But there are still opportunities left to explore in West Africa for investors that aims at this growing population with the adventurous spirit, backed up by a stable and improved economy that helps the regional markets to adapt and to aim for greater regional connection. This will in future play a big role in the entire economy with a big portion of it coming from this industry. And in process, the regions offer their natural beauty for hotel development and tourism attracting both domestic and foreign travelers to come and experience for themselves.
Source: Opportunities for Hotel Development in West Africa (Colliers).
