Tag: business recovery

Business travel will have an important role to play as the global economy recovers from the massive knock-on effect of COVID-19. The US and the Eurozone experienced record-breaking declines of 32.9% and 40% in GDP, respectively, in the second quarter. And, although the extent of South Africa’s economic downturn has yet to be established with the official GDP figures only being released in a few weeks, we know the impact in our country has been severe.

Tourism is a significant sector. It directly and indirectly supports 8,6% of South Africa’s GDP. Its economic activity encompasses all non-commuter passenger travel, car hire, a wide range of accommodation types, a vast array of activities and attractions, conference centres, retail and restaurants and services such as tour operators, travel agents, conference and event organisers and the like.