Consumer confidence drives above inflation growth

THE TRAVEL industry has
grown just under 8% yearon-year
for the first four
months of the year, according
to BSP figures from January to
April. This when South Africa’s
consumer inflation rate sat
at 4,5% in April, according to
Statistics South Africa.
BSP figures for January to
April this year show R6,6 bn,
compared with R6,1 bn for
the same period last year.
Both Vicky Steinhardt,
land product and marketing
manager of Pentravel and
Mladen Lukic, gm of Travel
Counsellors SA attribute the
growth to improved consumer
confidence.
For the first five months
of the year, Pentravel’s BSP
sales were up over 12% and
the group had a record month
in January, with nearly 25%
year-on-year growth for the
month.
“People have more
confidence this year than they
had last year,” says Vicky. She
says that in the leisure space,
it’s not just BSP figures that
are up; land packages are
also reflecting good growth.
She cites Mauritius, Thailand
and Europe packages as
doing really well, and the
cruise sector showing
impressive growth.
The corporate travel market
is also buoyant, says Mladen.
Travel Counsellors is also
tracking growth above the 8%
industry average BSP reflects,
according to Mladen. “We are
seeing the same or a slightly
better outlook from our
customers.”