IN anticipation of the seventh edition of the Hotel & Hospitality Expo Africa in June, the African Hospitality Confidence Index 2024 unveils compelling insights into the evolving landscape of the continent’s hospitality sector.
Margaret Peters, event manager for Hotel & Hospitality Expo Africa at dmg events South Africa, highlights the buoyant nature of the industry, with 80 percent of operators in hotels, bars, and restaurants, along with industry suppliers, expressing growing confidence and optimism about the future. Peters notes the recovery from the pandemic, leading to a new growth phase marked by technological development, increased access to financing, and a focus on nurturing industry talent.
One of the prominent trends identified in the Confidence Index is the widespread adoption of Artificial Intelligence (AI), with nearly 1-in-4 businesses incorporating AI tools to enhance operations. Marton Takacs, Global Sector Leader for Hotel and Leisure at Moore Global, emphasises the broader digitization trend accelerated by the pandemic, with early adopters experiencing significant positive outcomes.
‘Bleisure’ tourism, a fusion of business and leisure travel, takes centre stage, constituting a significant portion of customers for 92 percent of respondents. Fuelled by post-pandemic travel demand and evolving remote work patterns, ‘bleisure’ tourism is expected to shape the industry further, with the global market projected to double to $731.4bn by 2032.
The Confidence Index also underscores the industry’s growing emphasis on Environmental, Social, and Governance (ESG) factors, with 89 percent of respondents deeming ESG action crucial for long-term success. Despite this acknowledgment, there is ongoing work to translate intentions into tangible measures, with 57 percent of those implementing ESG reporting positive impacts on customer satisfaction and loyalty.
The Index, now in its second year, provides a comprehensive snapshot of the African hospitality industry, featuring responses from 537 participants across 30 African countries. As Africa emerges as a fast-growing economic region, the Hotel & Hospitality Expo Africa from June 11 to 13, 2024, at the Sandton Convention Centre, becomes a pivotal platform for industry leaders to convene, network, and explore thriving opportunities in the dynamic hospitality sector.