INVESTING

Tourism industry sees positive comeback with 191.6% increase in income stats




South Africa’s tourism industry seems to be back on track with its citizens and visitors quite over the Covid saga and ready to live and explore again.

Measured in current prices, total income for the tourist accommodation industry increased by 191,6% in July 2022 compared with July 2021.

Statistics South Africa (Stats SA) published results for the monthly survey of tourist accommodation from a new sample drawn in April 2022, which replaces the previous sample that was drawn in April 2021.

The sample was drawn from a business register of enterprises with an annual turnover of at least R412 055 and that are required to register with the South African Revenue Service (SARS) for value added tax.

Income from accommodation increased by 140% in July 2022, the result of a 116,6% increase in the number of stay unit nights sold and a 10,8% increase in the average income per stay unit night sold.

ALSO READ: Calls for the government to help boost local travel and tourism

In July 2022, all accommodation types recorded positive year-on-year growth in income from accommodation. The largest year-on-year increases in income from accommodation were reported by hotels (265,8% and contributing 85,1 percentage points); as well as guest-houses and guest-farms (237,7% and contributing 9,6 percentage points).

Income from accommodation increased by 81,0% in the three months ended July 2022, compared to the three months ended July 2021. The main contributors to this increase were hotels (151,3% and contributing 54,2 percentage points); and ‘other’ accommodation (41,7% and contributing 22,5 percentage points).

Seasonally adjusted income from accommodation increased by 4,6% month-on-month in July 2022.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *