An independent assessment by the international tourism advisory expert, Martin Jansen van Vuuren, a partner at Futureneer Advisors (www.FutureneerAdvisors.com) , has quantified the significant economic benefits to host countries of the influential Africa Hotel Investment Forum (AHIF). He reveals that when AHIF returns to Addis Ababa at the end of September, it could bring over one and a half million dollars in direct benefit to the local economy, an additional two million dollars in indirect benefit and over a quarter a million in tax to the Ethiopian host government if spending at the 2019 event is a mere 10% more than when it was held in the city in 2014. This assessment is based on recent research of attendees at AHIF and a study on the economic impact of previous editions of the conference.

Looking back over the history of AHIF since the first conference in Casablanca in 2011, the event has made a total impact on the local host economies of $21.24 million of which $8.64 million is direct and $12.6 is indirect. In doing so, it has helped to create or sustain over 6,000 jobs and generate $1.4m in tax to the governments of the host countries.

But that's not all, the primary purpose of AHIF is to facilitate dialogue and ultimately deal-making between the top businesspeople present. Two surveys of delegates attending AHIF events between 2011 and 2018 (segmented by delegates that did or did not conclude a deal) indicated an average value of $12.2 million per transaction in 2018 and $4.6 million over the 8-year period. On the assumption that these findings, which were based on a sample of delegates, were representative of the whole group of attendees, AHIF facilitated around $2.8 billion of investment in the hospitality sector across Africa in 2018 and $6.2 billion between 2011 and 2018.

— Source: The Bench— Source: The Bench
— Source: The Bench

Martin Jansen van Vuuren, said: "One important measure of AHIF's success is the high-level of the delegates it attracts - the attending CEO's and MD's do not only spend more than average by staying in the best hotels but much more importantly, they are people with the ability to make decisions, including whether or not to invest in a destination - and that's reflected in the value of deals done."

Martin's report also highlights intangible benefits that flow from hosting AHIF. These include increased awareness of the destination's conference and tourism offering, improved credentials, which will assist bidding for future events and employment opportunities and skills transfer for workers in local supplier companies.

Matthew Weihs, Managing Director of Bench Events (www.BenchEvents.com), which organises AHIF, said: "It's exciting and gratifying to see how much the conference adds to the destinations we visit and to the hospitality sector across Africa. At this year's event, I am aware of more serious investors coming with more money behind them than ever before, so it feels to me that the hospitality industry in Africa is rapidly becoming more mature and sophisticated."

About The Bench

The Benchhas established a legacy for delivering world-leading investment forums and conferences in Europe, Africa, the Middle East, and Latin America. The key principle behind these platforms has remained "dealmaking'. Transforming the way business connect, Bench has developed a reputation for creating innovative and high-impact meeting spaces for the industry.

For over two decades - government leaders, tourism ministries, global travel & tourism associations, the world's most influential hospitality brands, hotel owners & investors, renowned restaurant groups, airlines & aviation authorities, destination developers, asset managers, financial groups and consultants – have been participating in The Bench's events for their respective objectives. These include AHIC, AHIF, FHS, AHF, IDEEA, AviaDev and RENEW –where industry players showcase their brands, position themselves as thought leaders or innovators, and connect with the right opportunities and knowledge.

Learn more on thebench.com

About FHS World

Dates: 30 September – 2 October 2024

Location: Madinat Jumeirah, Dubai, UAE

Sponsors:

Jumeirah as Host Sponsor; Italia Hospitality, Maldives Fund Management Corporation, Moroccan Agency for Tourism Development-SMIT and Sri Lanka Tourism Development Authority as Country Pavilion Sponsors; Aseer Development Authority, Hilton, NEOM, New Murabba, Radisson Hotel Group and Taiba Investments as Platinum sponsors; Accor, Club Med, IHG Hotels & Resorts, Marriott International, Millennium Hotels and Resorts, Minor Hotels, Red Sea Global and Rotana Hotels and Resorts as Emerald Sponsors; Action Hotels, Adyen, Aleph Hospitality, ARC International Design Consultants, Ark People Solutions, AtkinsRealis, Barriere Group, CBRE, Colliers, Compass Project Consulting, Dusit International, Elaf Group, Emaar Hospitality Group, Enterprise Greece, HVS, Hyatt, IHCL, JLL, JT+Partners, Kearney, Knight Frank, LEVA Hotels, Livit Consulting & Design, Louvre Hotels Group, Prologic First, PwC, Quo, Rikas Hospitality Group, roboSculptor, Rove Hotels, Sharjah Investment and Development Authority (Shurooq), Sommet Education, The Ascott Limited, TUI Hotels & Resorts, United Hospitality Management, Unox and Wyndham Hotels & Resorts as Gold Sponsors; Aldar, Conran Business Group, COREcruitment, EHL, H World International, Shaza Hotels, STR, and Time Hotels as Silver Sponsors; SOHO Hospitality as Gold Sponsor - Restaurant Invest; Forsite Creative as Data Partner - Restaurant Invest; Lokalee as Start-up Exhibitor; Lock Stock & Barrel as After Party Host; BE WTR as Water Station Sponsor; Considerate Group, HAMA, Sustainable Hospitality Challenge, The Emirates Academy of Hospitality Management, The Emirates Culinary Guild, UAE Restaurants Group, UN Tourism and World Sustainable Hospitality Alliance as Supporters.

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