The Hotel & Hospitality Confidence Index: How Perspectives and Perceptions will Shape the Industry in 2023

January 30, 2023 / By Tourism News Africa

The confidence index report conducted by dmg events and Moore offers a study on ‘Perspectives and Perceptions: How Confident is the African Hospitality Industry in 2023?‘ The report sheds light on the current state of the market using insights from a comprehensive survey developed to bring the perspectives of all stakeholders within the hotel & hospitality industry. 

Respondents varied from suppliers, owners, operators, and key stakeholders who are tourism professionals and work within hotels and restaurants in Africa. 

Tourism is a critical economic driver, and the Covid-19 pandemic significantly impacted the industry. The resurgence in 2022 indicates that the hotel market in Africa is poised to grow substantially due to the hotel and hospitality industry’s robustness. 

According to Statista’s analysis and predictions that align with the report, hotel revenue in Africa is predicted to reach a staggering US$13.80 billion by 2027. North Africa is leading the way compared to the rest of Africa by pushing an increase in international tourism by 29% in 2022.

Respondents observed a strategic shift in performance objectives to prioritise the customer and develop multiple revenue streams, combined with a change in demographic patterns, after seeing the successful restoration of the sector. Travellers continue to seek out novel experiences and have high expectations that strongly encourage more substantial and personal connections. 

However, the report found that the right investments need to be made to remain competitive. This centres around CAPEX investments, technology, sustainable and conscious tourism, and the customer.

Key points covered in the Hotel & Hospitality Show Confidence Index report are:

• The trends shaping the hospitality sector
• The challenges faced and the response to the Covid-19 pandemic
• What positive outlook is being reflected
• Government support
• What to expect in 2023
• Critical investments that need to be made

Download the study here to acquire an in-depth understanding of the acute insights on the African hotel and hospitality sector given to you by dmg events and Moore Global.