The tourism industry could potentially be one of the strongest performing sectors of the Namibian economy in 2024, according to Simonis Storm Securities.
The firm said although business and conference tourism still lag behind 2019 levels, there is potential for significant growth, especially as certain hospitality establishments are poised to accommodate guests attending events such as The Africa Hospitality Investment Forum (AHIF) and the AviaDev Africa event.
Organisers of the AviaDev Africa event have announced that 26 airlines have registered to participate so far, suggesting significant interest and the potential economic impact particularly in the tourism and hospitality industry.
In 2023, the overall number of passengers arriving and departing on international, regional, and domestic flights reached its highest point since 2019. Specifically, the total number of passengers arriving was 514 533, while the total number of departures was 499 398. The majority of this passenger traffic was recorded at Hosea Kutako International Airport (HKIA), with Walvis Bay Airport and Eros Airport following in terms of activity.
In 2023, the overall number of passengers arriving and departing on international, regional, and domestic flights reached its highest point since 2019. Specifically, the total number of passengers arriving was 514 533, while the total number of departures was 499 398. The majority of this passenger traffic was recorded at Hosea Kutako International Airport (HKIA), with Walvis Bay Airport and Eros Airport following in terms of activity.
“Initial indicators suggest that the local tourism and hospitality industry is continuing its recovery. In January 2024, occupancy rates at hospitality establishments nationwide remained higher than those before the pandemic, though they were slightly below the levels seen in January 2023.”
Particularly, the room occupancy rates at nationwide establishments were at 36.8% in January 2024, compared to 39.0% in December 2023 and 37.1% in January 2023.
In the first month of the year, coastal regions emerged as the most sought-after holiday destinations, boasting an occupancy rate standing at 55.39% above pre-COVID levels, the highest among all regions.
Following coastal regions were central areas with a 47.1% occupancy rate, southern areas with 33.8%, and northern areas with 29.8%.
Simonis said from a global perspective, international tourism has nearly fully bounced back from the unprecedented impact of COVID-19. With many destinations either meeting or surpassing pre-pandemic arrival and revenue figures according to the latest United Nations World Tourism Organization (UNWTO).
“By the end of 2024, it is projected that international tourism will rebound to nearly 90% of its pre-pandemic levels.”
