AUTHENTIC AFRICAN LUXURY AS AN OPPORTUNITY FOR TOURISM GROWTH
"I was born in a family of changemakers. My parents nurtured a strong sense of consciousness and responsibility to make the world a better place, starting from within." - Swaady Martin
All around the world, in key luxury markets, the luxury industry actively participates in tourism development. The luxury shopping opportunities in several capitals such as Paris, London, NYC, Dubai, etc. are a significant driver of tourism. According to the FashionNetwork.com, nearly half (47%) of luxury goods purchases are made by travelling consumers, whether in a foreign country (31%) or while they pass through airports (16%). And the figure is as high as 60% if luxury purchases by consumers from China, Russia and the UAEs only are taken into account.
Africa is still at the infancy stages of its luxury journey. Although, the continent has had a culture of craftsmanship for thousands of years, it is not yet linked to luxury. As the cradle of Humankind, Africa has developed and fostered crafts, techniques and inspirations that can be seen as some of the foundations of global luxury. In the recent years, Africa has increased the presence in certain categories within the luxury industry, such as luxury hospitality, and there is already an impressive list of luxury brands present on the continent both in direct and indirect retail. The opportunity lies in developing an authentic African luxury and a portfolio of African luxury brands that tourists can experience and purchase on the continent. YSWARA has coined the term LUXE UBUNTU to define an authentic African luxury embodying core values and cultural meaning shared by the entire continent.