The first Tourism, Hotel Investment and Networking Conference being held in South Africa (THINC Africa), presented by global hospitality consultancy, HVS, is taking place in Cape Town on 6-7 September 2016.
The good news is that after the visa debacle in 2015, and the rand’s devaluation, the South African situation is rapidly improving.
According to the latest HVS Hotel Valuation Index (HVI), the 2016 edition of which will be released at THINC Africa, hotel performance in the major cities rose, in rand terms, by 16%.
As Smith says, this is a very impressive recovery and demonstrates the hugely exciting potential of the tourism and hospitality market in South Africa and Africa.
It also begs the question: What COULD happen if visa requirements are completely revised?
Smith will share his thoughts on this and other aspects of the business of tourism and hospitality in Africa, because the sector has enormous potential to create jobs, reduce poverty and promote inclusive economic growth across the continent.
“Tourists are still keen on Africa, and looking for new destinations rather than shunning the whole continent because of terrorism in North Africa and the threat of Zika. For example CapeVerde saw an 8.6% compound annual growth rate in international visitors in the past five years,” says Smith.
“One of the largest challenges to investment in Africa is the lack of reliable data. The HVI will cover 21 markets in 16countries; that is a 50% increase since the launch in 2014. This is helping to add transparency to the market and provide information to assist investors in making decisions.”
Please join us to learn more about THINC, the global speakers addressing the conference as well as the latest data on hotel and tourism investment in South Africa and Africa.
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