In 2023, the share of travel services in South Africa's commercial service exports stood at 36.29%. The forecasted data for the years 2024 through 2028 indicate a gradual decline in this share: from 35.94% in 2024 to 34.54% in 2028. This represents a year-on-year decrease with a CAGR of -1.2% over the five-year period from 2024 to 2028.
Trends to watch for in the future include:
- Changes in global travel demand influenced by economic conditions and pandemic recovery.
- Shifts in preferences towards other service sectors like IT and business services.
- Potential policy changes affecting travel and tourism, such as visa regulations and international partnerships.
