Country Insight: South Africa
South Africa was particularly hard hit by the Covid-19 pandemic as the government imposed strict containment measures. As such, the economy recorded a 7% contraction in 2020. The recovery has yielded better-than-expected results thus far, however, we expect the recovery process to be slow and gradual. The poor vaccination drive and electricity outages will weigh on economic activity over the short term.
What you will learn:
- Johannesburg, which accounts for almost 28% of total consumer expenditure in South Africa, is also the largest spending city in sub-Saharan Africa
- Total inbound travel spending fell sharply to $2.6bn in 2020, from more than $8.0bn in the previous year. The tourism sector is set to return to pre-pandemic levels by 2025
- Total inbound travel spending fell sharply to $2.6bn in 2020, from more than $8.0bn in the previous year. The tourism sector is set to return to pre-pandemic levels by 2025
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