GSAIR 2023 : EMEA 16
Third is the growth in flexible visa options . The Introduction of golden visa options in many Middle Eastern countries enables longer stays for visitors and attracts professionals likely to favour serviced apartments over other accommodation options .
In the coming year , Dubai , Abu Dhabi , and Jeddah are expected to be key growth areas , attracting a mix of regional and international operators and brands like The Address , Fraser Suites , Staybridge Suites , and Rotana .
Africa By René Stegmann
After Europe and the Americas , Africa is becoming one of the most popular locations for business travellers . Serviced apartments in some of Africa ’ s most buzzing cities are in high demand as they continue to attract more business travellers and appeal to a larger crowd .
The most booked destination in Africa for serviced apartments is Lagos , Nigeria . Nearly half of the city ’ s population conducts business , and its citizens are reported to have a mutual commercial mindset . 70 % of new business owners all around the world target Lagos for future business opportunities . 10
GDP . 11 Africa ’ s banking assets are comparable to that of European nations ’ such as Russia .
Mining is another major market . Most of the natural resources that the continent produce is traded globally . Africa has the majority of the world ’ s most precious resources and minerals including diamonds , gold , phosphate , and platinum .
Nineteen out of fifty-four African countries are amongst the world ’ s most significant producers of oil and gas . 12 Finally , the telecommunications sector is competitive and lucrative in Africa , with plans to develop this industry by extending into rural areas .
A combination of a rise in input pricing and an overall increase across Africa in investment and activity suggest a general rate rise across the continent . Nigeria will witness an overall increase in prices in all sectors , including the housing and hospitality sector . 13 Casablanca , Morocco presents amazing investment opportunities that provide for even more growth in the sector . Business travel in East African countries is predicted to show a steady increase , and Nairobi is at the centre of this development due to Kenya ’ s positive investment climate .
Côte d ’ Ivoire is one of the most politically stable countries on the continent . That ’ s why many business tycoons choose to extend their projects there . Casablanca , Morocco is amongst the cities with the most business investments . Morocco is also the first African nation to invest in other African countries .
Johannesburg , South Africa is the largest city in the southern half of the continent . Given the government ’ s continued efforts and investments to improve infrastructure , we predict that Johannesburg will certainly continue on this upward trajectory . Nairobi , Kenya has the largest stock exchange in Africa , and the influx of tourism in this region certainly contributes positively to its economy .
Amongst the five biggest international industries in Africa , Agriculture makes up 15 % of the continent ’ s
10 . How Africa , https :// howafrica . com / top-7-business-destinations-in-africa / 11 . McKinsey & Company , Africa ’ s path to growth : Sector by sector | McKinsey 12 . McKinsey & Company , https :// www . mckinsey . com / featured-insights / middle-east-and-africa / africas-path-to-growth-sector-by-sector 13 . Africa ’ s tourism : A global destination for investment and entrepreneurship | Brookings