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It comes as no surprise that Statistics SA’s survey of tourism accommodation covering April and May found that the number of bed nights sold fell to just about zero: tourism has effectively been outlawed since the last week of March. However, the monetary value of lost revenue is astounding. According to the report, income generated by hotels, guest houses and B&B establishments fell by nearly 99 percent. Nearly R3,8 billion in revenue was lost in only two months.
The report shows that in April revenue from bed nights sold fell from R1,99 billion a year ago to just R37,9 million. In May it fell from R1,75 billion last year to R26,8 million this year.
Stats SA comes to the obvious conclusion in its report that: “The Covid-19 pandemic and lockdown regulations since March 27 have had an extensive impact on economic activity. Measured in nominal terms, total income for the tourist accommodation industry decreased by 98 percent in May 2020 compared with May 2019.
“Income from accommodation decreased by 98,5 percent year-on-year in May 2020, the result of a 98 percent decrease in the number of stay unit nights sold and a 24,2 percent decrease in the average income per stay unit night sold,” say the researchers. — Moneyweb.
Online Reporter