Steady Travel and Tourism Busi­ness Per­for­mance Re­sults For Q1 2016

Tourism Tattler - - BUSINESS & FINANCE - Im­age courtesy of South African Tourism

Not­with­stand­ing the ris­ing in­fla­tion and slow economic growth, over­all busi­ness per­for­mance lev­els in South Africa's travel and tourism sec­tor have re­mained steady in the first quar­ter of 2016.

This is high­lighted in the lat­est re­sults of the TBCSA Tourism Busi­ness In­dex (“TBI”), pub­lished to­day by the Tourism Busi­ness Coun­cil of South Africa (“TBCSA”).

The re­port shows that busi­nesses in the sec­tor ex­pe­ri­enced al­most nor­mal busi­ness per­for­mance lev­els in Q1, record­ing an in­dex score of 97.8, slightly be­low the score of 100, which would in­di­cate nor­mal per­for­mance lev­els. It is im­por­tant to note that this re­sult is very close to the an­tic­i­pated in­dex score of 94.6, which was fore­casted in the last quar­ter. Although there was a small de­cline in per­for­mance com­pared to Q4 2015, busi­nesses in the sec­tor per­formed closer to nor­mal lev­els in this quar­ter, buoyed by strong per­for­mance in the ac­com­mo­da­tion sec­tor.

Delv­ing deeper into the two main com­po­nents that make up the TBI, the re­port shows that Q1 per­for­mance lev­els came in higher than ex­pected in the ac­com­mo­da­tion seg­ment at 119.3, com­pared to the an­tic­i­pated in­dex score of 100.8. This is one of the strong­est per­for­mances for this seg­ment, only sur­passed pre­vi­ously in Q1 2013. In con­trast, the other tourism busi­nesses seg­ment, recorded lower than nor­mal busi­ness per­for­mance lev­els, at 81.2, an in­dex score that is be­low the fore­casted score of 89.9.

Com­ment­ing on the out­comes of the re­port, TBCSA CEO, Mmatšatši Ra­mawela, says it is clear from the re­sults that busi­nesses, par­tic­u­larly in other tourism sec­tors are fac­ing pres­sures in the oper­at­ing en­vi­ron­ment. How­ever, she em­pha­sised that over­all the travel and tourism still faired far bet­ter than other economic sec­tors in the first quar­ter of the year. “This is the sec­ond low­est Q1 TBI score recorded since 2011, but when we com­pare our re­sults with other recog­nised economic in­dices in the coun­try, it is quite ap­par­ent that travel and tourism re­mains far more re­silient which is very com­fort­ing and en­cour­ag­ing”.

Read More: Down­load the Down­load the Down­load the TBI Q1 Ex­ec­u­tive Sum­mary Full TBI Q1 Re­port Down­load the lat­est TBI Fact Sheet TBI Ta­bles and Fig­ures In­dex

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