Inbound Tourism Expenditure on Road Passenger Transport Services in South Africa demonstrated a growth trend from 2013 to 2023, peaking at 16.75 billion ZAR in 2023. The expenditures showed consistent year-on-year increases up to 2019, followed by a slight dip in 2020. Despite the pandemic effect, the sector bounced back, achieving robust growth in 2021 and continuing this trend through to 2023.
The CAGR over the past five years (2018-2023) stood at 2.45%, illustrating a steady rise. Comparative annual variations show significant fluctuations, the highest being between 2014 and 2015 (12.03%) and the lowest between 2020 and 2021 (7.78%). The upcoming five years forecast a CAGR of 1.67%, predicting a continued incremental increase, expecting total expenditure to reach 18.62 billion ZAR by 2028.
Future trends to watch for:
- Potential impacts of global economic conditions on tourism spending.
- Technological advancements in road passenger transport could influence expenditure patterns.
- Environmental regulations and sustainable travel initiatives might shift consumer preferences.
