Between 2013 and 2023, domestic tourism expenditure on railway passenger transport services in South Africa showed significant fluctuations. In 2013, spending decreased by 24.58% compared to the previous year. This was followed by a stable growth rate in the subsequent years, peaking in 2019 with a year-on-year increase of 68.44%, before a substantial drop due to the COVID-19 pandemic in 2020. Recovery efforts led to rises of 12.91% in 2021 and 15.52% in 2022. In 2023, the expenditure reached 489 million ZAR, up by 3.6% from the previous year.
The compound annual growth rate (CAGR) for the past five years was 11.64%, showcasing a robust recovery from the pandemic's impact. Forecasts for the period from 2024 to 2028 suggest a slower yet steady growth, with a five-year CAGR of 2.69% and an overall growth of 14.21%.
Future trends to watch for include:
- Technological advancements in railway infrastructure and services.
- Shifts in consumer preferences towards greener modes of transportation.
- Government investments and policies aimed at boosting tourism and public transport.