TRAVEL AND TOURISM BUSINESS PERFORMANCE RISES IN Q4 2016
Despite the tough operating environment, the travel and tourism industry experienced slightly better than normal business performance in the last quarter of 2016, says the Tourism Business Council of South Africa (TBCSA).
Today, the Council published its 25th edition of the quarterly Tourism Business Index (TBI), which reports higher than anticipated business performance in the last quarter of 2016. Against a normal performance score of 100, the industry recorded an index of 104,5 – slightly higher than the anticipated index of 81.7. Although, performance in this quarter was the best for 2016, overall 2016 performance was slightly below 2015, and continues the soft decline seen since the best years of 2013 when the average for the year was just below 110 – once again drawing attention to the challenges businesses are facing in the operating environment.
Specific business segment performance
In Q4 2016, the ‘Other Tourism Businesses’ segment (comprising of tour operators, coach operators, vehicle rental companies, airlines, travel agents, retail outlets, forex traders, conference venues and attractions) recorded better than normal performance with an index score of 116.1. This is significantly higher than the forecast score of 69.9. Meanwhile, the Accommodation segment performance was below normal levels with an index of 89.5 – a score that was notably also below the expected 109.4 “We welcome the general improvement in business performance over this period”, says TBCSA CEO, Mmatšatši Ramawela. However, indications of a steady decline in performance over the past three years are a cause for concern”. Read More
- Download the Full TBI 2016 Q4 Report here
- Download the TBI 2016 Q4 Executive Summary here
- Download the print-friendly version of this press release here