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BSP shows September slowdown

07 Nov 2018
Comments | 0

WHILE BSP figures from

January until August

reflected industry

growth of just under 10%,

September figures show

growth of just under 3%.

This substantial slowdown

in growth comes alongside

significant losses by the rand

against stronger currencies.

In June and July, the

rand reached a high of

R14,71 to the euro and a

low of R16,12. However, In

September, the rand dropped

as low as R17,94 to the

euro.

Agents surveyed at the time

reported a significant drop

in both business and leisure

forward bookings compared

with the same period last

year, while more than 50%

said some clients cancelled 

bookings after the rand

weakened.

Franz Von Wielligh, gm of

Flight Specials, told TNW it

was an expected reaction to

the rand’s decline, especially

in the current economic

climate. He added that, given

that most consumers had

already made their travel

bookings, he didn’t expect the

market to show improvement

until next year. 

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