From 2013 to 2023, internal tourism expenditure on passenger transport services in South Africa experienced fluctuations. Starting at 94.73 billion ZAR in 2013 and reaching 145.96 billion ZAR in 2023, the values reveal an overall upward trend with some dips and peaks along the way. The year-on-year variation showcases significant increments in certain years, such as 2014 and 2019, and notable declines during periods like 2015 and 2020, reflecting economic impacts and fluctuating tourism activities. The Compound Annual Growth Rate (CAGR) over the last five years stood at 5.67% as of 2023.
Future trends to watch for:
- Forecasts show a steadier growth with the CAGR expected to average at 2.38% over the next five years, potentially indicating a period of stabilization.
- Possible influences on expenditure growth include economic recovery post pandemic, changes in domestic travel policies, and increasing demand for sustainable transport options.
