The forecast for international spending on tourism in South Africa indicates a consistent decline over the coming years. In 2023, spending stood at USD 5.65 billion. From 2024 to 2028, the values are expected to gradually decrease from USD 5.59 billion to USD 5.35 billion. Year-on-year variations show a decline of approximately 1% annually from 2024 onwards. The CAGR over the last 5 years suggests an average annual reduction of approximately 1% as well.
Future trends to watch for include potential impacts of geopolitical events, changes in global economic conditions, fluctuations in currency exchange rates, and evolving tourist preferences. Additionally, South Africa's ability to efficiently manage and promote its tourism sector amid these challenges will be crucial in mitigating the forecasted decline. Continued investment in infrastructure and marketing, as well as ensuring safety and sustainability, will be key to reversing this trend.
