A recent report from PwC shows that revenue from hotel room accommodation in South Africa increased by 8.1 per cent in 2015 to R14.2 billion (US$1 = R13.7). Hotel room revenue is projected to expand at a 7.8 per cent compound rate overall, reaching R20.6 billion in 2020.
This growth is driven by an increase in visitor numbers and comes following a previous decline in the number of foreign visitors after new visa regulations were introduced. The new increase is speculated to be connected to an ease in certain of these regulations.
“The devaluation of the rand and the relaxation of certain visa regulations has had a positive impact on the tourism industry in South Africa, making the country a more attractive tourism destination,” confirmed industry leader of hospitality and gambling at PwC Southern Africa Pietro Calicchio. “This has also had a positive impact on the number of foreign visitors to South Africa over the past six months.”