Last week, at the Africa Travel Summit in Johannesburg, South Africa, international marketplace Airbnb launched a $500,000 fund geared towards supporting tourism in Africa.
Per Velma Corcoran, the company’s regional lead for MEA, the fund will be used to help governments, entrepreneurs and tourism organisations identify and unlock new tourism opportunities across different communities in Africa. The funds will also be dispersed via awards and grants given to local stakeholders.
The company will also give access to the City Portal to 10 more African countries, including South Africa. This portal is a new tool for local governments and tourism organisations to learn about Airbnb in their communities and find ways to boost tourism.
More for entrepreneurs: Airbnb is also expanding its Entrepreneurship Academy to five new countries in the next two years, following its success in South Africa and Kenya. The Academy is a skills development programme that helps people from diverse and underrepresented communities learn how to become successful Airbnb hosts, in partnership with local organisations.
Zoom out: Tourism has been down since 2019 when it made up 6.6% of the continent’s GDP—about $169 million, but there is some hope in the sector. Some reports project that consumer spending on tourism, hospitality, and recreation in Africa is projected to reach about $261.77 billion by 2030. To reach this potential though, Africa has a lot of work from cross-border regulations and travel restrictions on the government’s end, to infrastructural issues and market.