SA expects big hit to vital tourism sector from virus
Surprise GDP outcomes and tanking global growth mean the Treasury's growth estimates are now just wishful thinking
08 March 2020 - 00:14
As many of its major trading partners grapple to contain the fallout of the coronavirus on their economies, SA is bracing for a R200m blow to tourism due to the disruption of global air travel.
The sector is vital to any hope of economic recovery in SA, especially in light of data this week showing that the economy is officially in recession - it contracted a surprise 1.4% in the fourth quarter of 2019, and annual growth came in at a lower-than-expected 0.2%. These are the worst figures since the economic meltdown about a decade ago...
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