The accommodation sector is showing signs of recovery from its post-World Cup slump, appearing its healthiest since 2010 as demand catches up to absorb the excess capacity delivered for the tournament. The swings in the fortunes of hotel properties over the past decade was as much due to volatility in capacity as demand. From 2004 to 2007 there was insufficient stock,...
Tourism
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Articles & Analysis | Visitor numbers begin to overcome post-World Cup excess capacity from The Report: South Africa 2014
The South African tourism sector has been a major benefactor of the opening up of the economy and the country’s reintegration with the global community. Tourism’s economic contribution is taking on added importance in light of the fact that its expansion has been outperforming growth in the economy at large. The sector’s total contribution to GDP, for example, is expected to grow by 3.6% per...
In April 2014 South Africans celebrated the 20th anniversary of both the end of apartheid and the creation of the modern Republic of South Africa. These two events highlight just how far South Africa has come in the past two decades, during which the nation’s numerous assets have contributed to its rise as one of Africa’s leading economic and diplomatic players.
Tourism has long been an integral and major contributor to Egypt’s economy – reaching 11.3% of GDP in 2010 – as well as a ready source of foreign currency. Nevertheless, the 14.7m international visitors seen in 2010 had decreased by more than a third to 9.1m by 2013. Almost as worrying was Egypt’s 85th position among global tourism destinations ranked by the World Economic Forum. Yet, the...
For millennia Egypt has been one of the most strategically important places on earth, and often one of its most culturally influential. Despite significant structural issues and the political instability of the past few years, it remains a country of great regional and global importance.
Articles & Analysis | Cruise ship arrivals are rising rapidly from The Report: Brunei Darussalam 2014
The economy of Brunei Darussalam has relied heavily upon the sea, from its traditional roots as seafaring traders to offshore oil and gas fields, which now account for the lion’s share of the country’s GDP. These same waters could now also provide a substantial boost for the Sultanate’s fledgling tourism sector by delivering tens or even hundreds of thousands of tourists...