South African Tourism and Hospitality Sectors Show Growth in May 2024
Recent reports from Statistics South Africa (StatsSA) reveal positive trends in the country’s tourist accommodation and food and beverage industries for May 2024.
Tourism Accommodation Sees Uptick
The tourist accommodation sector experienced a 4.4% increase in total income compared to May 2023, measured in nominal terms. Income from accommodation specifically rose by 5.8% year-on-year, driven by a 10.6% increase in average income per stay unit night sold.
Other accommodation and hotels were the largest contributors to this growth, with increases of 10.7% and 3.8% respectively. The three-month period ending May 2024 saw a 7.5% rise in accommodation income compared to the same period in 2023, with hotels and other accommodation again leading the charge.
Seasonally adjusted figures show a month-on-month increase of 7.6% in May 2024, following a 1.3% rise in April.
Food and Beverage Industry Demonstrates Resilience
The food and beverage sector also showed promising signs, with total income growing by 3.8% in real terms compared to May 2023. ‘Other’ income and bar sales recorded the highest growth rates at 5.1% and 4.7% respectively.
Restaurants and coffee shops were the main drivers of this growth, contributing 3.4 percentage points to the overall increase. Takeaway and fast-food outlets also made a positive contribution.
For the three-month period ending May 2024, the industry saw a 1.1% increase compared to the same period in 2023, with restaurants and coffee shops again leading the way.
Seasonal adjustments reveal a significant 7% month-on-month increase in May 2024, following declines in the previous two months.
These figures suggest a robust recovery in South Africa’s tourism and hospitality sectors, potentially indicating broader economic improvements as the country moves further from the impacts of the COVID-19 pandemic.
Tourist accommodation – Key findings – https://www.statssa.gov.za/?page_id=1856&PPN=P6410&SCH=73703
Tourist accommodation – Full publication – https://www.statssa.gov.za/publications/P6410/P6410May2024.pdf
Food & Beverage: Key findings – https://www.statssa.gov.za/?page_id=1856&PPN=P6420&SCH=73705
Food & Beverage: Full publication – https://www.statssa.gov.za/publications/P6420/P6420May2024.pdf
