Forecast: Retail Trade of Country-specific Tourism Characteristic Goods Employment in South Africa

Based on the data provided, the retail trade of country-specific tourism characteristic goods employment in South Africa has experienced significant fluctuations. From 2013 to 2019, employment trends showed volatility with a notable drop in 2015 by 20.24% followed by a substantial increase in 2019 of 29.75%. The 2020 pandemic caused a slight decline, but the recovery has been stable with incremental growth from 2021 onwards. In 2023, employment stood at 149.85 thousand jobs.

The year-on-year variation from 2022 to 2023 was 1.61%, signaling steady growth, while the average annual growth rate (CAGR) over the last five years is 5.1%. The forecast from 2024 to 2028 anticipates a moderate growth rate with a projected CAGR of 1.25% and a 6.43% increase over the five years.

Future trends to watch for include the impact of global economic conditions on tourism and discretionary spending, advancements in digital retail and e-commerce for tourism goods, and further recovery and potential new growth drivers post-pandemic. Monitoring these factors will be critical for predicting employment trends in this sector.