Kevin Lings is Chief Economist at STANLIB.

The number of ultra-high net worth individuals – those with at least $30 million in assets – in Africa will increase by a staggering 59% over the next 10 years, stronger than the 34% projected global growth.

Looking at the international scenario while the global economic recovery remains on track, it is both fragile and uneven.

Over the past 20 years, the tourism sector's contribution to South Africa's gross domestic product (GDP) has increased significantly with an average annual average real growth rate of 7.3 percent (Source Stats SA), creating jobs and generating valuable foreign currency.

UAE and Japan outperform, while Russia and Brazil falter

Brics nations, despite high growth in tourist arrivals from these countries last year, remain an untapped resource for South African Tourism.

Brazil, Russia, India, China and South Africa aim to conclude the setting up of a Brics development bank at the next Brics summit to be held in March next year in Durban

As South Africa today attends its first BRICS summit as a full member of the BRIC (Brazil, Russia, India, China) club of nations, global commercial real estate firm Jones Lang LaSalle (NYSE: JLL) re-affirms its commitment to the country