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.
