WTM Global Trends Report 2012 highlights Nollywood as driver of region’s tourism

Posted: November 20, 2012 in travel & tourism

Euromonitor, the world’s leader in strategy research for consumer markets recently released its annual World Travel Market Global Trends Report 2012 at the recently-held London’s World Travel Market (WTM), early this month, in which it highlighted Nollywood as a major driver of tourism in Nigeria and Africa.

It would be noted that the WTM Global Trends Report has successfully predicted some significant trends in the travel and tourism industry over the last eight years which includes gamification, or the integration of gaming dynamics in non-gaming environments to create brand awareness and loyalty, as a key industry trend for travel companies.

For this year’s edition of the annual report, the Euromonitor Trends Report for 2012 noted among others that technological innovation remains the driving force between the rise of smart TVs and creating new opportunities for travel brands, while also acknowledging that Nigeria’s film industry, Nollywood, is a magnet for intra-regional African travel.

According to the report, Nigeria’s film industry, Nollywood, remains the world’s second largest in volume terms, after Bollywood (India) and ahead of Hollywood (United States), with over 2,000 films produced annually.

While it noted that Nollywood films are popular in many African countries including Sierra Leone, Cameroon, Gabon, Kenya, South Africa, Democratic Republic of Congo and Gambia, the Euromonitor revealed that in these African countries, Nollywood films are distributed through TV channels and DVDs and are more popular than Hollywood films.

“Another important foreign market for Nollywood films is the vast Nigerian Diaspora overseas, with significant numbers in the United Kingdom, the United States and South Africa,” said Caroline Bremner

Global Head of Travel and Tourism Research, Euromonitor International.

In driving tourism in Nigeria as well as the rest of Africa as an emerging trend, the report noted with Lagos as the centre of the Nigerian film industry, with many films shot in the Festac area of the city, Nollywood has helped to change stereotypes about Nigeria, by highlighting its culture, norms, creativity and hospitality.

“The huge popularity of Nollywood films attracts domestic and regional African tourists to Nigeria, visiting film locations with arrivals to Nigeria expected to record a 3 per cent CAGR over 2012-2016, mainly due to intraregional tourism fuelled by expanding African economies,” the report stated.

Observing that the popularity of Nollywood will be a major growth driver with the leisure sector, attracting film fans and business travel boosted by the growing economic importance of the film industry, the report noted that the situation has spurred the emergence of several film villages being developed throughout Nigeria.

“Abuja Film Village, Plateau Film City and Lagos Film City aim to boost the film industry by providing modern film, TV and audio production facilities, and also encourage tourists to visit. Thanks to increasing tourism flows, 2012 saw a boom in hotel openings in Lagos, including Radisson Blu, Four Points by Sheraton, Ibis and Legacy,” Bremner said.

Continuing, the Euromonitor Global Trends Report 2012 noted that in Nigeria presently, more hotels are under construction or in the pipeline from groups such as Hilton Worldwide, Accor, InterContinental Hotels Group and Protea.

“Airlines operating intra-regional routes will benefit, including Arik Air and Air Nigeria, while new African low-cost carrier, FastJet, is expected to start operating flights in Nigeria in future,” it revealed.

For Africa, therefore, the report summed that Destination Nollywood Nigeria’s film industry for 2012 remains the world’s second largest and attracts intra-regional visitors, drawn to its film locations and culture.

The report also highlighted that African economic growth outpaced the global average in 2012, thus boosting disposable incomes, just as it noted that the region is poised for continued strong growth in arrivals, incoming tourist receipts, air and hotel value sales in 2013.

“Intra-regional travel is crucial for the African tourism industry, due to strong business, linguistic and cultural links between many countries,” the report concluded.

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