In a promising development for the South African tourism sector, the latest data reveals a substantial surge in the tourist accommodation industry’s income during November 2023. The figures, measured in nominal terms at current prices, demonstrate a notable 13.2% increase compared to the same period in 2022.
The heartening news stems from a significant 15.0% year-on-year increase in income from accommodation in November 2023. This growth is attributed to a dual impact: a 3.9% rise in the number of stay unit nights sold and a substantial 10.7% increase in the average income per stay unit night sold.
|MetricsPercentage IncreaseNumber of Stay Unit Nights Sold+3.9%Average Income per Stay Unit Night Sold+10.7%
Breaking down the contributors to this surge, hotels emerged as the frontrunners with an impressive 16.9% increase, making a substantial 10.9 percentage point contribution. Additionally, ‘other’ accommodation establishments played a pivotal role, boasting an 18.1% increase and contributing 5.1 percentage points to the overall growth.
|Accommodation TypePercentage IncreaseContribution to Overall GrowthHotels+16.9%10.9 percentage points’Other’ Accommodation+18.1%5.1 percentage points
Zooming out to a broader perspective, the tourist accommodation industry maintained its momentum over the three months ending November 2023. Income from accommodation increased by a robust 14.7% during this period compared to the same timeframe in 2022.
|Accommodation TypePercentage IncreaseContribution to Overall GrowthHotels+15.0%9.5 percentage points’Other’ Accommodation+18.9%5.6 percentage points
While the overall trend remains positive, the seasonally adjusted income from accommodation saw a 1.1% decrease month-on-month in November 2023. This follows a 3.9% decline in October 2023. Despite these minor setbacks, the industry’s sustained growth over the year indicates a positive trajectory.In conclusion, the tourist accommodation sector in South Africa is experiencing a robust recovery, with hotels and ‘other’ accommodation leading the charge. The impressive year-on-year and three-month growth in income reflects a resilient industry poised for further expansion. The slight dip in seasonally adjusted income serves as a reminder of the ongoing challenges but does not dampen the overall positive outlook for the sector. As the country continues to navigate the post-pandemic landscape, the tourism industry’s resurgence bodes well for the broader economic recovery.