Forecast: Internal Tourism Expenditure on Accommodation Services for Visitors in South Africa

The internal tourism expenditure on accommodation services for visitors in South Africa saw a steady increase from 2013 to 2019, peaking at ZAR 47.47 billion. The COVID-19 pandemic impacted 2020 significantly, causing a -15.09% decline. However, a robust recovery followed, with spending reaching ZAR 53.2 billion in 2023, a 2.93% increase from the previous year. Over the last five years, the compound annual growth rate (CAGR) stood at 3.23%. From 2024 onwards, forecasts indicate a continued, albeit moderate, growth trajectory with a 5-year CAGR forecast of 2.21% and a total forecast growth of 11.57% through 2028.

Future trends to watch for:

• Technological advancements enhancing travel experience.

• Increased domestic travel due to instability in international travel markets.

• Environmental sustainability efforts impacting travel and accommodation choices.