Forecasted internal tourism expenditure on water passenger transport services in South Africa is projected to rise steadily from 2024 to 2028, starting at 3.12 billion South African Rands in 2024 and reaching 3.65 billion by 2028. Based on actual data, the 2023 value stood at 2.98 billion. The year-on-year variation shows a consistent growth rate, indicating a healthy upward trajectory. Specifically, the year-over-year growth for 2024 is 4.7%, 2025 is 4.5%, 2026 is 4.1%, 2027 is 3.8%, and in 2028 it is 3.7%. The 5-year compound annual growth rate (CAGR) from 2024 through 2028 is approximately 4.2%.
Future trends to watch for include potential impacts from economic conditions and currency fluctuations, technological advancements in the transport sector, and environmental regulations that could affect costs and operations. The tourism sector's recovery post-COVID-19 pandemic and new marketing strategies will also be key in driving further growth in internal tourism expenditure on water passenger transport services.
