The internal tourism consumption of road passenger transport services in South Africa stood at 63.24 billion South African Rands in 2023. Analyzing year-on-year trends and percentage variations, the series saw fluctuation, with a significant drop in 2017 of -10.97%, followed by a sharp rise in 2019 of 43.55%. In more recent years, the trend shows moderate growth, with a 2.66% increase in 2023. The 5-year CAGR until 2023 averaged at 7.8% reflecting steady growth.
Future trends to watch for:
- Sustained growth projected, with an anticipated average annual rise of 2% over the next five years.
- Factors influencing this growth include economic stability, infrastructure improvements, and tourism initiatives.
- Potential impacts of global economic conditions and local market dynamics on consumer spending and travel behavior.
- Technological advancements in transport services and their adoption.