Real Estate Investor Magazine South Africa March 2013 | Page 55

COMMERCIAL

The industry, of course, nearly came to
grinding halt with the global recession. It was
a rude wake-up call to the industry. In South
Africa there has also been a major shift from
European inbound traffic to African inbound,
which entirely changed the local requirements.
And since Asia was a cheaper market, tourists
also started f locking in a different direction.
Airlines, tour operators and hospitality outfits
were suddenly forced to re-evaluate their
products and services and find new ways of
enticing their customers back. Although there
has been a slight increase in the numbers from
traditional European markets, the industry is
still too unstable for anything substantial to
happen soon. It can be noted that the tourist
industry in South Africa is managing the
transition better than expected but there are
still some dependencies lingering, which is
holding back true development.
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