Africa -  Cote d-Ivoire - Abidjan

With a GDP growth of 8.1% in 2017, Ivory Coast was the fastest growing economy in west Africa. The economy was boosted by an increase in mining production, the recovery of cocoa prices and the strong promotion of the region by the government. As part of the National Development Plan 2016-20, the government has chosen tourism as a priority sector and aims to make it one of the biggest contributors to GDP by 2020.

2017 was a challenging year for tourism in Abidjan owing to the violent mutinies led by rebel soldiers in three Ivorian cities, including Abidjan. Tourists and investors alike were wary to consider Abidjan as a destination. Hotels performance and values went down by 4.4% due to a decrease in occupancy.

However, Abidjan is proving itself as a resilient market. The development of new industrial zones such as Yopougon in north-Abidjan combined with the modernization of the city’s infrastructure is likely to boost foreign investment and international tourism. In April 2017, the Moroccan banking group Attijariwafa announced two new investment funds; one being dedicated to support institutional investments in the Ivorian tourism industry.

Hence, 2018 shows a rebound. Investors’ confidence has improved encouraged by a strong GDP growth combined with the positive loan review for Ivory Coast by the IMF. International brands such as Marriott and Accorhotels have scheduled new hotels’ opening in the next few years. 2018 is expected to show a 10% increase in values led by a strong increase in market occupancy. The expected growth in tourism in 2019 and 2020 will be partially offset by the introduction of new supply into the market leading to flat hotel values in those years

Exchange Rate:

Exchange Rate 2016 Exchange Rate 2017 Change 2016/2017 Exchange Rate 2018 Change 2017/2018
US$ 1 0 0
Cote d-Ivoire - Abidjan 0.00167 0.00172 3.0% 0.00182 5.8%

Change In Value For Market:

Legend
Significant Value Increase: Greater than +10%
Moderate Value Increase: Between +3% and +10%
Stable Values: Between -3% and +3%
Moderate Value Decline: Between -3% and -10%
Significant Value Decline: Less than -10%

Cote d-Ivoire - Abidjan RevPAR Change

Cote d-Ivoire - Abidjan RevPAR

Year RevPAR
2015 92.30
2016 88.93
2017 85.02
2018 (f) 93.66
2019 (f) 94.55
2020 (f) 93.40

For more information, please contact:

Tim Smith, MRICS
[email protected]
  • +27 797 342296 (w)
Rishabh Thapar
[email protected]
  • +27 0 792790584 (m)
Laura Dutrieux
[email protected]