Published on : Tuesday, August 28, 2018
The size of Seychelles and its limited workforce moved the islands to accept tourism wholeheartedly, ever since the opening of the international airport in 1971. The world is living in an era where artificial intelligence embedded in machines has replaced the majority of the workforce making us re-imagining the future.
Experts believe that if industrialization is to connote significant opportunities for the workforce, then today the service industry and knowledge economy must be part of that future “industrialization”.
In Africa, the hospitality industry holds endless opportunities, and yet the Eiffel Tower – a manmade steel structure – attracts more tourists, about 7 million annually.
Room revenue in Nigeria and Mauritius showed double-digit growth, but Kenya and Tanzania showed declines in revenues. The decline in Kenya was a consequence of political challenges after the Supreme Court overruling of the August presidential result, though by December tourist arrivals showed better results.
Looking forward to the next five years, hotel revenue growth in Tanzania will show compound annual increases of 9.1 per cent per annum (marginally behind Kenya (9.6 per cent), but ahead of Mauritius (7.2 per cent) and South Africa (5.6 per cent)) boosted by faster growth in global GDP, more flights and new hotels; however, higher taxes and rates will remain an impediment to growth.
Over the next five years, seven new major hotels are expected to open in Tanzania (including Rotana, Anantara, City Lodge, Hyatt Regency, Sarovar Portico and Ritz-Carlton) adding 900 rooms by 2019 and 1,200 by 2022, marking a 16 percent cumulative gain.