SA Tourism and Hospitality Sector Show Positive Signs
The latest report from Statistics SA shows that the number of foreign arrivals into the country increased by 11.4% y/y to 1.56mn in January, with 1.441mn of these arrivals being classified as foreign visitors (up 11.1% y/y). Of the total number of foreign visitors, some 1,012,641 were classified as tourists or overnight visitors, increasing by 15.4% y/y in January. A further analysis of the data showed that foreign visitors from non-African destinations (overseas) increased by 16.2% y/y to 214,903 in January. The recent data shows a fairly robust recovery in inbound tourist arrivals following the slump in early 2015. The recovery, not unexpectedly, has likely been driven by the sharp depreciation of the currency in recent months as well as the relaxation of former strict visa rules.