Namibia - Wind­hoek

Tourism Tattler - - BUSINESS & FINANCE - For de­tailed anal­y­sis visit http://hvi.hvs.com/mar­ket/africa/Namib­ia_-_Wind­hoek

Namibia's econ­omy is in­te­grally linked to that of South Africa and the rest of Southern Africa. Based on this con­sid­er­a­tion, the same head­winds that are faced by South Africa will have an im­pact on the Namib­ian econ­omy, with low growth prospects be­ing the order of busi­ness. Slug­gish global demand and low prices for its key com­modi­ties ex­ports will con­tinue for the fore­see­able fu­ture.

The out­look for tourism in Namibia re­mains bright, as it is boosted by incredible nat­u­ral at­trac­tions. The gov­ern­ment is ac­tively in­volved in sup­port­ing and mar­ket­ing the coun­try to source mar­kets through sev­eral in­ter­na­tional of­fices. The De­part­ment of En­vi­ron­ment and Tourism co­or­di­nates tourism leg­is­la­tion and is sup­ported by such bod­ies as Namib­ian Tourism Board, the Fed­er­a­tion of Namibia Tourism As­so­ci­a­tion, Hosea Ku­tako In­ter­na­tional Air­port, Min­istry of Home Af­fairs and Im­mi­gra­tion. Ho­tel per­for­mance in Wind­hoek broke with a three-year grow­ing trend in 2015 with a drop in oc­cu­pancy, al­though it re­mains well ahead of his­toric levels. There was an im­pres­sive 8% growth in ADR in lo­cal cur­rency. Hil­ton World­wide has an­nounced the sign­ing of a man­age­ment agree­ment with Out of Africa Hos­pi­tal­ity to open a mid-mar­ket Hil­ton Gar­den Inn ho­tel in Wind­hoek, Namibia. The new prop­erty will open ad­ja­cent to the ex­ist­ing Hil­ton Wind­hoek in 2017. In US$ ho­tel val­ues re­main strong, al­though the trend has fallen due to the cur­rency fluc­tu­a­tion. Af­ter a slow start to the year Wind­hoek ex­pe­ri­enced a re­bound in tourism in 2016. Oc­cu­pancy re­verted back to pre­vi­ous level, close to 70%, with an in­crease in av­er­age rate in line with the high in­fla­tion­ary level in the coun­try. REVPAR and ho­tel val­ues in­creased by 12.9% in Namib­ian dol­lars terms.

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