Casablanca - A boom in Africa-wide hotel construction led by some of the world’s top chains will mark a new dawn for the continent’s already surging tourist sector – offering massive opportunities to international interior suppliers.
Casablanca – A boom in Africa-wide hotel construction led by some of the world’s top chains will mark a new dawn for the continent’s already surging tourist sector – offering massive opportunities to international interior suppliers.
The Hilton, Fairmont, and Jumeirah groups are just three of the big names ploughing millions of dollars into vast new visitor properties expected to forever change the region’s tourist landscape.
Starwood, Marriot and the Four Seasons will also invest heavily across North, South and Central Africa in the five-years between now and 2021 that experts predict will be one of the largest periods of hotel growth in the continent’s history.
The world renowned chains are desperate to expand their portfolios to keep pace with astonishing recent rises in foreign direct investment (FDI) into the continent. While FDI last year grew at an average rate of just 1% worldwide, Africa experienced a 7% surge – leaving hoteliers gripped by the market’s booming potential.
Paul Frimpong, Investor Analyst at international business facilitation experts Naseba, said: “The enormous potential of the African continent cannot be emphasized enough. Africa is the fastest growing region for FDIs in the world. Aggregate household consumption will reach $1.4 trillion with collective GDP hitting $2.6 trillion in 2020 alone. These facts show that with the understanding of the growth momentum, combined with the right strategies, lies handsome rewards for current and prospective investors in the region.”
The inaugural INDEX North Africa – taking place in Casablanca, Morocco, from December 5-7 – will provide the essential bridge for global furnishing firms to meet and do business with the local and international design professionals procuring for some of the continent’s biggest projects.
Architects, interior designers, real estate developers, buyers and engineers working on not only hospitality, but retail, commercial and residential developments will be in attendance, looking to source everything required to fit out a wide range of interiors.
Samantha Kane-Macdonald, Event Director at the INDEX Design Series, said: “The fact that the African hotel sector is set to experience one of its largest periods of growth to date is fantastic news for all suppliers of interior solutions like furniture, lighting, kitchen and bathroom products. These are exactly the high quality finishes international hotel developers will be demanding.
“At INDEX we have been connecting the furnishings community with decision makers responsible for procuring interior products and technologies for 26 years. Taking our event to Morocco at a time of such continent-wide development is hugely exciting.”
The inaugural INDEX North Africa will take place at the Parc Des Expositions De L’Office Des Changes (CICEC), in Casablanca, between December 5th and 7th.