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Unlocking Africa’s travel tech potential within the $13tn global travel industry

9Feb

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Africa Travel

Unlocking Africa’s travel tech potential within the $13tn global travel industry

Written by Adam Aziz, Analyst at DAI Magister In 2019, tourism was a global powerhouse, accounting for 10% of GDP, or roughly $9 trillion. After weathering the pandemic storm, we expect 2023 figures to show a full recovery to pre-COVID levels, in line with data from leading travel platforms and the World Bank. But the story doesn’t end there. A transformative shift is underway, fuelled by evolving consumer preferences and habits, which could push tourism spending even higher to $13 trillion by 2030. Amidst this dynamic landscape, the travel tech sector is witnessing noteworthy developments. Online Travel Agencies (OTAs) are still capitalising on the shift from traditional to digital platforms, gaining a greater share of the travel and tourism market. In more developed markets, OTAs are in...

SITA Launches A Revitalized Portfolio To Meet The Industry’s Changing Demands

Five priority areas have been identified as critical to rebuilding air travel post-COVID Your Runway to Success, published by SITA, sets out five critical areas for the air transport industry’s rebuild in the next 18 months and highlights SITA’s remodeled solutions to tackle the major challenges facing air travel in the wake of the COVID-19 pandemic. Over the past 12 months, COVID-19 has dramatically impacted the aviation industry financially and operationally. IATA estimates a net loss for the airline industry of $47.7 billion in 2021. IATA research also reveals that average passenger processing and waiting times have doubled from what they were pre-crisis during peak time – reaching three hours despite travel volumes hovering at around 30% of pre-COVID-19 levels. With revenues dropping,...

Africa’s Travel & Tourism Top 2018 Highlights

Africa’s travel and tourism industry continued to record impressive growth in the past year. The continent hit a 63 million high in international tourist arrivals in 2017, as compared to 58 M in 2016 (+ 9% vs 2016); according to a Hospitality Report published in December 2018. The growth record is slightly above the global performance of a 7% rise in 2017, to reach a total of 1.323 billion international tourist arrivals. Here are some of the tourism highlights for the just concluded year, 2018. International tourist arrivals As compared to her counterparts, Africa’s share of international tourist arrivals was only 5%. Europe boasted the lion’s share with 51%, followed by Asia and the Pacific which recorded 24%. The Americas and the Middle East had 16% and 4% respectively. Results we...