Gift card industry is expected to grow by 15.2% on annual basis to reach US$1074.3 million in 2022. Despite near-term challenges in 2022, medium to long term growth story of gift cards in South Africa remains strong.

The gift card industry in South Africa is expected to grow steadily in H1 2022 and record a strong growth in H2 2022. The growth momentum is expected to continue to grow over the forecast period, recording a CAGR of 13.0% during 2022-2026. The gift card market in the country will increase from US$932.7 million in 2021 to reach US$1752.6 million by 2026.