Forecast: Internal Tourism Consumption of Tourism Related Products in South Africa

In 2023, internal tourism consumption of tourism-related products in South Africa stood at 45.38 billion South African Rands, reflecting a year-on-year increase of 3.52%. From 2022 to 2023, internal tourism consumption grew from 43.83 billion Rands, marking a stabilization trend after a series of fluctuations induced by factors such as economic conditions and the COVID-19 pandemic.

The five-year Compound Annual Growth Rate (CAGR) leading up to 2023 was 7.75%, signifying a robust average annual growth over the period. The data from 2013 to 2023 illustrate notable peaks and troughs, with substantial growth in years like 2019 (35.54% increase) and significant drops such as in 2020 (-20.35%) due to pandemic-related disruptions. Despite these variabilities, the general trend over the decade indicates positive growth.

Future trends to watch include the forecasted growth up to 2028, with an expected five-year CAGR of 2.61%, suggesting continued but slower growth. This calls for attention to factors such as changes in consumer behavior, growth in ecotourism, and technological advancements in tourism services. Strategic investments and diversification in tourism products could help sustain momentum.