TOURISM BUSINESS INDEX REVEALS POSITIVE RESULTS FOR THE REMAINDER OF 2017
In this week’s analysis of the latest Tourism Business Index, we take a look at some positive contributing factors to tourism business performance for the remainder of 2017:
- 39% of respondents in the Accommodation segment expect that a weak Rand exchange rate (39%) will have a positive impact on business performance. Similarly, 35% of Other Tourism Businesses also expect a weak Rand exchange rate to positively impact on business performance for the next half of 2017.
- Specific factors expected to positively affect the Business situation in 2017 include:
– Weakening Rand making the destination more affordable
– Increase in domestic leisure demand
– More demand through conferences and events in the region
- Some respondents expect a transfer of supply to their business due to the Knysna fires
- In terms of employment, 95.5% of respondents in the Accommodation sector expect employment levels to remain unchanged for the remainder of 2017. As for the Other Tourism Businesses segment, 16.0% of segment respondents expect to increase employment levels in 2017, whilst 79.1% expect them to remain unchanged.
- Lastly, in terms of capacity expansion for the remainder of the year, 94.9% of respondents in the Accommodation sector and 61.7% in the Other Tourism Businesses segment stated that capacity is expected to remain the same.
Click here to download your copy of the TBI 2017 Half-Year Review & Outlook Report