After sharp acceleration of tourism growth and investments just before the FIFA World Cup 2010, growth in South Africa’s hotel industry was slowed by the imbalance between room supply and demand created by the massive growth in the supply while demand stagnated. Occupancy rates at properties thus dropped, and average prices followed in their wake. Today, demand has nonetheless caught up with the supply thanks to steady improvement in domestic and international arrivals at the destination, and the South African hotel industry appears to be ready to resume the growth track.
Key factsPopulation: 52 millionSurface area: 1,219,912 sq.km Hotel supply: 1,116 Room supply: 65,000Tourist arrivals: 9.2 million in 2012Tourims revenues: 76 billion rand (close to 7 billion dollars)Primary supply markets: African countries Since it became a member of the BRIC countries in 2011, now...
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