From 2013 to 2019, internal tourism expenditure on air passenger transport services in South Africa demonstrated steady growth, peaking at 54.81 billion South African Rands in 2019. The year 2020 marked a significant downturn due to the global pandemic, plummeting by 58.24%. Recovery began in 2021 with a robust growth of 94.62%, and by 2022, the expenditure surged to 61.53 billion Rands, approaching pre-pandemic levels. By 2023, the value stood at 63.62 billion Rands, exhibiting a modest 3.39% year-on-year growth.
Recent trends:
- 2022 Y-o-Y Variation: 38.12%
- 2023 Y-o-Y Variation: 3.39%
- Last 5-year CAGR ending in 2023: 3.53%
Future projections from 2024 to 2028 indicate a steady growth, with expenditure expected to reach 73.65 billion Rands by 2028. The forecasted average annual growth (CAGR) over the next five years stands at 2.58%, reflecting a more conservative yet optimistic trajectory compared to recent recovery years.
Future trends to watch for:
- Technological advancements in air travel improving efficiency and reducing costs.
- Potential impacts of global economic factors and policy changes on travel behaviors.
- Emergence of sustainable tourism practices influencing expenditure patterns.
