Benin’s first 5-star hotel, along with Africa’s booming luxury tourism and investment in the creative industries, marks a new phase for the continent’s economic and cultural growth.
The UN World Tourism Organization reports that in 2023, Africa’s international traveler arrivals reached 96% of pre-pandemic levels, surpassing the global recovery rate of 88%. Luxury tourism has rebounded significantly, with the sector projected to grow at an annual rate of 7.6% through 2030, according to Deloitte. Southern Africa is set to exceed 2019 tourism results by year-end, with Mauritius and Morocco also drawing considerable luxury tourism.
Benin, too, aims to carve out a place in this market. In October, the country’s tourism agency announced a partnership with the Sofitel Cotonou Marina Hotel & Spa, its first 5-star hotel, designed to elevate Cotonou as a destination for both leisure and business travelers. The hotel director, featured in this week’s program, shares her vision for Benin’s luxury tourism and the challenges faced in launching the Marina Hotel & Spa.
Additionally, Morocco has focused its economic strategy on attracting diverse investments, remaining a top choice for investors in Africa over the past decade. The kingdom continues to attract international interest, with recent outreach from French President Emmanuel Macron.
Africa’s creative industries generate $2.25 trillion globally, yet contribute only 3% to this figure. Financial constraints limit growth in Africa’s cultural sector, but regional financial institutions are increasingly addressing these gaps to support African creatives.
