South Africa braces for tourism disaster amid corona virus hazard

Published on : Tuesday, March 17, 2020

South Africa may still have relatively few confirmed corona virus cases, but their two major foreign exchange earners – mining and tourism – are preparing to see the impact.


China holds a special place in the economy of South Africa, which went into recession in the last quarter of 2019.


Around 18.5% of South African exports go to China, with mining commodities grabbing the majority, at around 86% of total trade with the Asian country.


With China’s growth expected to slow due to COVID-19, the demand for minerals is also expected to get impacted, thereby affecting commodity prices and costing the industry millions.


The International Monetary Fund has forecast a 1% decline in growth in the Chinese economy due to the corona virus.


On average, China imports “Approximately 8.5 billion to 9 billion rand ($522,000 to $553,000) million monthly,” according to South Africa’s Minerals Council economist Tafadzwa Chibanguza.


The virus is expected to be a national crisis, having a huge impact on South African economy which is in a shaky situation.


The 2nd strongest economy in Africa after Nigeria, South Africa is the world’s top producer of platinum and a leading supplier of gold, diamonds, and other minerals.


According to the World Travel and Tourism Council, the tourism sector contributes 10% of South Africa’s gross domestic product, raking in billions of dollars.


China is ranked the 7th largest source of foreign visitors to South Africa with 97,000 tourists visiting the country’s game reserves and other sites in 2018. But now, tourism from China is impacted heavily due to the recent virus scare.


(No Like Yet)

Related Posts

Tags: ,

Comments are closed.

arrow2Follow TTW
facebook-logo  twitter-logo  LinkedIn_logo  rss_logo 
ttw_blogger_logo  ttw_blogger_logo


  • 01 WTM 2020
  • 02 WTM London 2020
  • 06 ITB Asia 2020
  • 12 ITE Hong Kong 2020
  • 13 IMEX 20
  • 16 FHC 2020
  • 16 G&A 2020
  • 16 ITB asia 2020
  • 16 TAAPE 2020
  • 17 AAA-banner 2020
  • 17 GWS-2020
  • 18 WCTIE 2020
  • 23 emitt 21
  • 30 PATA


    1. IT&CM CHINA 2020

      August 3 - August 5
    2. Asia Amusement & Attractions Expo 2020

      August 4 - August 6
    3. ITE Hong Kong 2020

      August 7 - August 9
    4. Hotel Investment Conference Australia New Zealand

      August 12 - August 14

      August 14 - August 16
Get our toolbar!
Review on