FNB Merchant Services chief executive Thokozani Dlamini said the bank had seen an increase of 55 percent in turnover on its merchant services platform for the overall tourism industry coupled with a 17 percent year-on-year increase in transaction volumes.
He said the increase in travel spend was driven largely by the increase in airline travel with total spending up from R4 billion to R8 billion in 2022.
At the same time, data released by Statistics SA earlier this month showed the hotel sector’s income levels making further progress post-lockdown recovery.
On a year-on-year growth rate basis, total hotel sector income was substantial, with a 118.6 percent increase in September, which was a renewed acceleration on the already strong growth of 58.5 percent in August.
In Cape Town the tourism industry is gearing up for a busy summer, with increased numbers of foreign tourists expected compared with the past two years. Sun International’s chief operations officer Graham Wood said while travellers want adventure they also crave luxury.
Domestic travel also remains high.
Mayco member for economic growth James Vos said the port of Cape Town was expecting 75 ships in the coming months. “The return of cruise liners is wonderful news, bringing thousands of visitors to our city, spending R100 million per port visit benefiting multiple industries,” said Vos.
There are landing more aeroplanes per day than even before COVID-19. The basis of the City’s tourism strategy was first, to get more flights landing in Cape Town, second, to dock more cruise liners from all over the globe and finally to host many more events and conferences.
This will bring many spin-offs from passenger spending to ship maintenance and provision of supplies, as reported by Pretoria News, a partner of TV BRICS.