Internal tourism consumption of passenger transport services in South Africa has seen fluctuating growth with a notable increase from 2013 to 2023, reaching a value of 145.96 billion South African Rands in 2023. The year-on-year variation over the last two years has been moderately positive with a growth of 3.17% in 2023. The average compound annual growth rate (CAGR) over the last five years stood at 5.67%, indicating a steady increase, despite some fluctuations in intermediate years.
Future trends to watch for include:
• Projected moderate growth with a forecasted 5-year CAGR of 2.38%, summing up to a 12.45% total growth rate by 2028.• Potential impacts of global economic changes and consumer confidence on expenditure.• Technological advancements and infrastructure improvements enhancing passenger transport services.
