The South African Tourism Statistics & SATSA Market Intelligence Report for July 2016 as indicated below was extracted from data available as at 27 June 2016. By Martin Jansen van Vuuren of Grant Thornton.
WHAT THIS DATA MEANS FOR YOUR BUSINESS
Data from Statistics South Africa, STR Global and Acsa all reflect the strong growth in foreign arrivals in the first four months of 2016. This strong growth will be impacted upon by the UK departure from the EU.
The main impact will be the change in foreign exchange rates with a weaker Pound being negative for South Africa’s tourism industry. This negative impact will, however, be countered by the stronger US Dollar and Euro, which will be positive for South Africa’s tourism industry. A longer term negative impact will be the slowdown and possible recession in the UK economy, which will decrease the amount of foreign travel by UK travellers.
Tourism enterprises might wish to adjust their pricing policies for the UK market and shift their marketing focus to the US and European markets.
*Note that African Arrivals plus Overseas Arrivals do not add to Total Foreign Arrivals due to the exclusion of unspecified arrivals, which could not be allocated to either African or Overseas.