International tourist expenditures on passenger transport items in South Africa saw various fluctuations over the years. After a peak in 2014 with a 2.71% year-on-year increase to $3.145 billion, the market faced declines, hitting a significant low in 2020 due to the pandemic, decreasing by -75.56% to $0.666 billion. A notable recovery commenced in 2021 with an increase of 155.32%, reaching $1.7005 billion, and continued into 2022 and 2023 with increases of 36.76% and 18.08%, respectively.
In 2023, the expenditure stood at $2.7459 billion. The forecast from 2024 to 2028 shows a stable but modest growth rate with a 5-year CAGR of 0.18%, indicating economic stabilization in the sector.
Future trends to watch for include the impact of global economic recovery, travel restrictions, and shifts in international tourist behaviors. The sector's growth will depend on how effectively South Africa can attract tourists amidst global competition and potential economic uncertainties.
