for subscribers

Brexit's effect on SA tourism

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(iStock)
(iStock)

Johannesburg - The United Kingdom’s recent vote to leave the European Union coupled with the UK leadership race have had a major impact on the pound.

However, experts are divided on how this will impact the local tourism industry. Some are saying that with the weaker Sterling, UK tourists will opt to travel to South Africa in order to take advantage of a weak rand. Others have said that the current situation will result in a decline in the number of tourists from the UK with those that do travel outside the country spending less money.

Pierre Roux, group financial manager for Premier Hotels & Resorts, agrees that UK tourism to South Africa will drop and believes that as a result of the weaker pound, South Africa will see more tourists from countries with stronger currencies such as the dollar and euro.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
15.11
(-0.00)
ZAR/GBP
20.24
(-0.08)
ZAR/EUR
18.04
(-0.18)
ZAR/AUD
11.13
(-0.01)
ZAR/JPY
0.14
(-0.07)
Gold
1810.03
(+0.11)
Silver
23.27
(-0.26)
Platinum
966.00
(+0.77)
Brent Crude
48.73
(+1.57)
Palladium
2364.16
(+2.25)
All Share
57742.19
(-0.03)
Top 40
52940.79
(-0.20)
Financial 15
11641.10
(-0.29)
Industrial 25
79835.50
(-0.36)
Resource 10
52605.42
(+0.07)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
22% - 338 votes
No, I did not.
51% - 791 votes
My landlord refused
27% - 427 votes
Vote