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The hospitality sector in Africa has potential for growth over the next five years, with an increase in the number of foreign and domestic travelers, as well as an expansion in a number of hotel chains on the continent reinforcing the untapped potential of the industry, A report released by PricewaterhouseCoopers on Thursday
The eighth edition of PwC's Hotel Outlook: 2018-2022 includes information on accommodation in South Africa, Nigeria, Mauritius, Kenya and Tanzania. The report predicts that hotel room receipts for the five markets will grow at a compound annual rate of 7.4% to 50.5 billion rand in 2022 versus 35.2 billion rand in 2017.
The receipts of South African hotel rooms are expected to rise by 5.6 percent from the annual compound rate to 21.8 billion rand in 2022 by 16.6 billion rand in 2017. [19659002] The total number of travelers to South Africa is expected to reach 19.5 million, an increase of 4% over
Nigeria is expected to be the fastest growing country in the next five years, with 39; planned opening of a number of new hotels. Kenya, Tanzania and Mauritius are expected to be the next fastest growing, with annual increases of 9.6%, 9.1% and 7.2%, respectively.
While tourism fundamentals in South Africa remained favorable, favored by an improvement in the global and local economy, other factors such as water scarcity in Cape Town, tourism capital of the country, also weighed on PwC. "Although bookings have dropped in Cape Town, global tourism in South Africa has held up during the holiday season and has even resumed. In the first quarter of 2018, Cape Town hotels are taking steps to conserve water and, if winter precipitation continues at the current rate, the scope of the crisis may be limited. "
Tourism to the African Continent Proven To be resilient to economic and political uncertainty, to the impacts of drought and other regulatory changes, Pietro Calicchio, leader of PwC's hotel industry in southern Africa, said: "There are many opportunities for" However, as we continue to see, there are also a number of challenges that each country faces, it is an industry that responds to the slightest change in policy, regulation, security and sustainability. "
– African News Age ncy (ANA)
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