Leading up to the seventh edition of the Hotel & Hospitality Expo Africa in June, the African Hospitality Confidence Index 2024 offers key insights into the trends shaping the continent’s hospitality sector.
Margaret Peters, Event Manager for Hotel & Hospitality Expo Africa at dmg events South Africa, highlights the latest findings:
“The latest Confidence Index portrays a dynamic industry where 80% of hotel, bar, and restaurant operators, as well as industry suppliers, are looking towards the future with increasing confidence and optimism.”
Peters notes significant recovery from the pandemic, with businesses entering a phase of growth characterized by technological advancements, improved access to financing, and a focus on nurturing talent. Notably, 55% of respondents now prioritize employee satisfaction and loyalty.
Artificial Intelligence (AI) adoption is a key trend, with nearly one in four businesses leveraging AI tools to enhance operations, driving innovation and efficiency. Martin Takacs, Global Sector Leader: Hotel and Leisure at Moore Global, emphasises the transformative potential of AI, particularly in revenue management and security.
The rise of ‘bleisure’ tourism is also prominent
A total of 92% of respondents acknowledge its significance. Fueled by pent-up travel demand and remote working trends, ‘bleisure’ is reshaping the industry, with its global market expected to double by 2032. Moreover, Environmental, Social, and Governance (ESG) initiatives are gaining traction, with 89% of respondents viewing them as vital for long-term success. Implementation of ESG measures, such as green energy and increased recycling, is associated with improved customer satisfaction and loyalty.
The Confidence Index – jointly conducted by dmg, Kaoun, and Moore Global – offers a comprehensive view of the African hospitality landscape. This year’s edition saw increased participation, reflecting the industry’s growing importance, with respondents from 30 African countries and the inclusion of suppliers for the first time. As Africa’s economy and population continue to grow rapidly, the hospitality sector faces complex challenges. However, digital transformation and modern measures offer opportunities to enhance profitability and guest experiences.
With optimism and determination, the industry looks forward to the 2024 Hotel & Hospitality Expo Africa, set to take place from 11 – 13 June 2024 at the Sandton Convention Centre, where stakeholders will converge to foster growth, networking and success.
