The Knowledge to Decide

Right now, five out of the world’s top 10 travel destinations are cities in the Asia Pacific. But it is widely acknowledged that the region punches well below its weight in tourism, which is why there is plenty of room for growth. How will Asia’s tourism industry evolve? Travel sector looks upbeat for Asia-Pacific region? According to a study conducted in 2013, the year was good for international tourism and strongest for destinations in the Asia Pacific region – Asia saw six per cent growth. Moreover, the number of international tourists increased by 14 million to reach 248 million. South-East Asia (as a sub-region of the Asia-Pacific) registered a 10 per cent increase. China emerged with a record number of international tourist arrivals in 2013, at 55.69 million. Asia’s tourism industry employs 65 million people and supports one in 12 jobs – exceeding industries such as financial services. Needless to say, this growth also led to the generation of 1 million new jobs a

Nigeria’s economy was worth over USD400 billion in 2013 – ahead of South Africa’s GDP of USD355 billion . Nigeria is becoming Africa’s largest oil exporter. But amidst the opportunities, challenges remain – chiefly political instability, theft of natural resources and lack of infrastructure. Will Nigeria’s emergence as the latest frontier market be a smooth one? A growing economy Now being referred as one of the MINT frontier economies in the world (Mexico, Indonesia, Nigeria and Turkey), Nigeria is expected to emerge as an economic powerhouse of the future . It has a good track record over the past ten years, with 7.4% real GDP growth in 2013, up from 6.7% in 2012. Nigeria is Africa’s most populous country and the ninth most populous in the world. Nigeria is Africa’s most populous country and the ninth most populous in the world, with 173.6 million people in 2013. According to recent UN projections, Nigeria will become one of the most populous countries in the world

Africa’s fashion industry is emerging as a serious global competitor and one that is known for its daring use of bright hues. Sub-Saharan Africa’s apparel and footwear market is now worth an estimated USD 31 billion. Singer Beyonce recently wore the Maki Oh label from Nigeria. African design houses are not limited to fashion but make luxurious accessories and jewelry. The rising fashion industry is good news for African economies. Textile factories are growing in number and capacity. However, the industry has been calling on African governments to invest more in training, finance and credit schemes as well as improved transportation infrastructure. This is necessary to help the industry attract the investment it needs to be competitive. Can Africa become a global fashion powerhouse? https://www.spireresearch.com/newsroom/spirethoughts/africa-the-rising-star-in-fashion/