TOURISM BUSINESS INDEX
THE GLASS REMAINS HALF-FULL FOR TOURISM DESPITE A DIP IN BUSINESS PERFORMANCE
The Tourism Business Council of South Africa (TBCSA) says the glass remains half-full for the travel and tourism industry to grow and contribute to the economy, despite a dip in overall business performance, in the first six months of 2017.
The TBCSA today released its Half-Year TBCSA Tourism Business Index (TBI) Report, which tracks and provides information about the level of business performance across the travel and tourism value chain, and also forecasts prospects for short-term future performance.
Overall, the industry experienced lower than normal business performance between January and June 2017, recording an index of 82,7 (where 100 is normal). Anticipated business performance for the period July to December 2017 is also slightly down, recording an index of 80.4. This indicates a slightly less optimistic view of business performance for the remainder of the year.
Commenting on the report, TBCSA Chief Executive Officer, Ms. Mmatšatši Ramawela says “the TBI results echo the outcomes of various other recognized business performance indices, notably the South African Chamber of Commerce and Industry (SACCI) Business Confidence (BCI) and the Rand Merchant Bank/Bureau of Economic Research (RMB/BER) Business Confidence Index which both point to a downturn in overall business performance and confidence. This confirms the view that it’s not just travel and tourism, but business across the board that is negatively affected by the challenging operating environment”.
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