Africa is beginning to witness remarkable growth in business opportunities in the luxury travel market.
Part of the growth was captured by the International Luxury Travel Market (ILTM) Africa in its 2024 edition, which recorded a 20 percent spike in exhibitor numbers and 80 percent increase in new buyers.
This year’s remarkable growth in business opportunities signposts the potential of the luxury travel market segment, which ILTM Africa, an exclusive gathering linking top travel agents and advisors globally with premier luxury travel providers in Africa, is committed to promote.
The above also makes ILTM Africa, unarguably the foremost event for luxury travel in Africa, spotlighting upscale experiences to a global audience of buyers.
According to Penny Fraser, Sales and Strategic Partnerships, RX Africa, organisers of the event, this year’s edition witnessed a significant surge in participation as well as expansive reach and growing interest from diverse regions.
“In this year’s edition, we had 20 percent more exhibitors than 2023 and like I said, we had three exhibitors from Sub-Saharan Africa last year and this year we had 16 Sub-Saharan countries outside of South Africa that exhibited,” she said.
According to her, there was an influx of new buyers from emerging markets, underscoring the escalating enthusiasm for business ventures across Africa.
“It has really been a massive growth for us. In terms of buyers we also had new buyers from new markets, a lot of BRICS markets, Scandinavia, 80 percent new buyers and 20 percent existing buyers into Africa. So, our exhibitors have incredible meetings, a lot of engagement, a lot of interest in other countries outside South Africa like I said; Madagascar, Uganda and the Maldives,” she disclosed further.
