SA Economy

The current recession is affecting consumer spending, and it shows. During a recent Sunday visit to the Waterfront in Cape Town, it was obvious that visitor numbers are not what they used to be. The parking garage was less than half full. The restaurants, a major attraction at the centre, were doing well. However, the more expensive one’s seem to have experienced reduced volumes. Today, on a visit to Canal Walk in Century City, the situation was very much the same. There was plenty of parking, and the restaurants in one of the sections of the Centre were almost deserted. Admittedly, the weather wasn’t great today, and it was 16.00. It is obvious that people are very careful, how they spend their money. Special offers in retail shops and restaurants are everywhere to be seen, and those with spare cash in their pockets can get some real bargains. The winter tourism from Europe and the Far East must also be way down, and the swine flu doesn’t help either. Let’s hope things will start to turn around sooner than later. WL


Tourist slump sees growing retrenchments

Posted on: 13 July 2009 20:17

A slump in tourism and conferences is hitting the hotel and events industry hard particularly in Cape Town and Durban.Even though its school holidays, revenues are down at hotels and guest houses as more families stay at home. Conferences and seminars are also dramatically down and seeing slow bookings or none at all putting some conference venues and training companies at risk, Andre Snyman, CEO of top debt counselling organisation, Consumer Assist says.

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