Tapping into booming economies

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It’s been five years of doom and gloom, as economies falter across Europe and the Americas. But the ‘dark continent’ has bucked the trend and taken on the role of the world’s ‘shining light’, when it comes to economic performance. And the bullish economies of Africa are proving some of the richest hunting grounds for multi-national hospitality groups looking for new areas to expand.

And where there’s economic growth, there’s business being done and corporate travellers jetting in. With bullish economies comes a buoyant hospitality industry, and a host of African and international hotel groups have geared up to welcome the influx of business travellers.

“The major industries driving the growth in Africa are international corporate companies from the energy and oil sectors, infrastructure, mining and development groups, as well as financial services and banking,” says Jose Ventura, Vice-President: Asia, Pacific, Middle East and Africa, Business Development for the Preferred Hotel Group. “The fastest-growing cities are Luanda, Maputo, Kampala and Dar es Salaam – these are driven by the energy and oil industries.”

To read the full story, check back on 1 August.