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.