From 2013 to 2023, domestic tourism expenditure in South Africa experienced significant volatility, influenced by socio-economic factors. The expenditure stood at 23.57 billion South African Rands in 2023. Noteworthy peaks include a steep rise of 70.67% in 2019 and a formidable rebound in 2021 with a 16.03% increase in 2022. The past five-year compound annual growth rate (CAGR) was 12.09%, indicating substantial recovery and resilience. Forecasted figures from 2024 to 2028 suggest a steadier growth path with a five-year CAGR of 3.01%, leading to a predicted expenditure of 28.35 billion Rands in 2028.
Future trends to watch for include potential impacts from global economic conditions, policy changes affecting tourism, and the increasing significance of eco-tourism and digital trends like online bookings and digital experiences, which may drive future growth.
