Africa's Luxury Tourism Draws Investors' Interest

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00:00talk us through what is driving Africa's luxury hotel boom and why there is so much interest all

00:05of a sudden to get involved when the banks are stepping out. Thank you so much. So Africa is

00:14on the cusp of a boom in luxury tourism and that's partly driven by a change in sentiment after the

00:21pandemic. Now people are traveling for wellness. They also want once in a lifetime and bucket list

00:28experiences. And Africa has that in loads and bounds especially when it comes to encounters with

00:34wildlife and conservation. So that's drawing a lot of interest. And at the same time many of the world's

00:42top hoteliers and investors see Africa as one of the last under penetrated markets for travel and

00:48tourism. So that's also stimulating great hotel development across the continent.

00:54How significant could this be for Africa?

01:02Well I think it has a lot of potential for Africa and potential that Africa now needs to exploit.

01:07It provides the continent with an opportunity to showcase a different side. One as I said with great

01:15natural landscapes, conservation, dynamic cultures and wildlife. At the same time it also gives governments

01:26an opportunity to boost job creation especially in some of our reporting shows that in these ultra luxury

01:33hotels people usually employ at least four members of staff for every single guest. So it's got massive

01:39potential to create jobs across the continent and to boost development especially in emerging cities where

01:46you have hoteliers that come in and build entire ecosystems to welcome people.