Africa is presently home to some of the fastest-growing economies in the world, with several countries experiencing growth rates of 7% per year or higher. This is particularly noteworthy given the overall economic slowdown in other developing and emerging regions of the world.
The tourism industry constitutes an important pillar in the realization of Africa's economic potential. The revenues from tourism in Africa represent more than double the total given in donor aid. To make African tourism more inclusive and beneficial to all segments of the population, corporate and government practice must change. While high growth has been achieved and sustained even in the aftermath of the global financial crisis, Africa's challenge now is to embark on inclusive and green growth. In this regard, tourism can make an important contribution, given Africa's abundant natural beauty and rich cultural heritage.
So far, the potential of Africa's tourism is far from tapped— while Africa accounts for about 15% of the world population, it receives only about 3% of world tourism receipts and 5% of tourist arrivals. To maximize Africa's tourism potential, critical investments are needed in key infrastructure sectors (e.g., transport, energy, water and telecommunications). Indeed, one priority area for the African Development Bank is the promotion of tourism through the development of cross-border infrastructure.
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