Published on : Wednesday, June 20, 2018
As South Africans start on to progress on the after-effects of yet another fuel price rise, our first thought target on things we feel we can do without, the things we remove from our lives to keep our households and businesses going. In the boardrooms, they call it trimming the fat, and it is an inescapable reality.
No one is resistant to a dwindling economy, and local tourism is no exception. The effect of a fuel price hike can be totally damaging for domestic tourism, with fewer South Africans capable to afford to go on holiday. Family holiday vacations turns out to be a luxury at the time of pressing economic times, and the knock-on effects are felt by local communities and businesses.
Last year, tourism directly contributed around 2.9% to the South African gross domestic product (GDP), according to the latest release of Stats SA’s annual Tourism Satellite Account for South Africa report. Tourism becomes a major contributor than agriculture, but smaller than other industries like construction and mining. The World Travel and Tourism Council (WTTC) predict that this will rise by 2.4% in 2018 and by 3.6% per year between 2018 to 2028.