Forecast: International Tourism Expenditures in Ghana

In 2023, international tourism expenditures in Ghana stood at 1,472.0 million USD. Over the past decade, the trend in international tourism expenditures in Ghana has shown significant variability. From 2013 to 2019, there was a general upward trend with occasional declines, peaking dramatically in 2015 and 2016. However, the COVID-19 pandemic caused a sharp decline in 2020, followed by a recovery phase from 2021 onwards. Year-on-year variation for 2022 was 13.61%, and for 2023 it stood at 8.96%. The Compound Annual Growth Rate (CAGR) for 2023 over the last 5 years is 2.07%.

Looking ahead, forecasted data suggests a gradual increase in tourism expenditures through 2028, with the 5-year CAGR expected at 1.52% and a forecasted growth rate of 7.81% over these years. This indicates cautious optimism for growth in international tourism expenditures in Ghana.

Future trends to watch for include:

• Global economic stability and its effect on tourism spending.
• Recovery and growth of the tourism sector post-COVID-19.
• Investment in tourism infrastructure and marketing by the Ghanaian government.
• Impact of sustainable tourism practices on expenditure patterns.
• Emerging markets and demographic changes in tourist arrivals.