Tourist Accommodation November 2023:
In November 2023, StatsSA reported a notable 13.2% increase in total income for the tourist accommodation industry compared to the same period in 2022, measured in nominal terms. The growth was driven by a 15.0% year-on-year increase in income from accommodation. This surge can be attributed to a 3.9% rise in the number of stay unit nights sold and a significant 10.7% increase in the average income per stay unit night sold.
Key Highlights:
- Hotels led the surge with a 16.9% increase, contributing 10.9 percentage points.
- Other accommodations also played a significant role, showing an 18.1% increase and contributing 5.1 percentage points.
- Over the three months ending November 2023, income from accommodation rose by 14.7%, with hotels and other accommodations contributing significantly.
However, seasonally adjusted income from accommodation experienced a 1.1% month-on-month decrease in November 2023, following a 3.9% decrease in October 2023.
Food and Beverage November 2023:
In real terms (constant 2019 prices), the food and beverages industry saw a 1.0% increase in total income in November 2023 compared to the same month in 2022. Bar sales led the growth with an impressive 7.6% annual growth rate.
Key Highlights:
- Restaurants and coffee shops were the main contributors to the 1.0% year-on-year increase, showing a growth rate of 2.5% and contributing 1.3 percentage points.
- Over the three months ending November 2023, total income increased by 1.8%, with restaurants and coffee shops contributing significantly.
However, the seasonally adjusted income for the food and beverages industry experienced a 2.5% decrease in November 2023 compared with October 2023.
StatsSA Liquidations & Insolvencies Report December 2023:
The Trade, Catering, and Accommodation sector reported 318 liquidations for the year-to-date, comprising 26 compulsory and 292 voluntary liquidations. This total represents 19.2% of the overall liquidations across all sectors. For December 2023 alone, there were 28 liquidations, accounting for 20.4% of the total across all sectors.
These statistics provide valuable insights into the economic landscape, indicating both growth and challenges within the tourist accommodation and food and beverage sectors in South Africa.
