The inbound tourism expenditure on air passenger transport services in South Africa experienced significant fluctuations over the past decade, peaking at 12.42 billion South African Rands in 2016 and hitting a low of 3.89 billion in 2020 due to the pandemic. The CAGR from 2018 to 2023 was -0.51%, indicating a slow recovery. In 2023, the expenditure stood at 9.83 billion Rands, showing a minimal increase of 0.34% from the previous year.
Forecasts for the next five years (2024-2028) suggest a stable annual growth rate with a forecasted CAGR of 0.34%, projecting the value to reach 9.85 billion Rands by 2028.
Future trends to watch for:
- Impact of global economic conditions on tourism spending.
- Influence of airline industry recovery and pricing strategies.
- Changes in travel behaviors post-pandemic.
- Policy shifts affecting international travel and tourism in South Africa.
