Tag Archives: GDP

International Monetary Fund downscales SA economic growth rate to 1,3% for 2016!

imageThe International Monetary Fund (IMF) has downscaled its forecast for our country’s economy for this year to only 1,4%, down from 2%.

The GDP is expected to only grow by 1,3% next year, forecasts the IMF, the slowest rate of growth since the last recession in 2009. China’s economic slowdown is largely to blame, with metal imports reducing due to that country’s ‘slump‘. Mining jobs are in Continue reading →

Cape Town International Convention Centre expansion will be good for Tourism!

Cape Town International Convention Centre sod turningThe sod has been turned for the construction for the expansion to the Cape Town International Convention Centre (CTICC), which is certain to boost the Tourism industry in Cape Town specifically, and the Western Cape economy generally.  Green design elements have been planned, to make the expansion section environmentally sustainable.

Western Cape Minister of Tourism Alan Winde said about the expansion: ‘The CTICC is a major economic catalyst and the planned expansion of the venue will significantly increase its capacity for meetings and exhibitions. This will boost business travel to the province and create more employment opportunities in the tourism sector. In the previous financial year, it is estimated that the CTICC created 7 500 jobs. This is an excellent example of infrastructure-led growth paving the way for increased employment for our residents’.  The exhibition space will double by 10000 m², which means that Cape Town can bid for future Indabas, Africa’s largest tourism exhibition.

The Western Cape attracted 28000 conference delegates worth R347 million in the past year.  In the current financial year  this is Continue reading →

WhaleTales Tourism, Food & Wine news headlines: 3/4 June

WhaleTalesTourism, Food, and Wine news headlines

*   British Airways is offering Winter’s Drift Shiraz 2011 in Business Class on its South African routes in June and July.  The wine spent 11 months in French oak.  Grapes came from Glen Elgin, and the wine was made by Kobie Viljoen at the Gabriëlskloof Cellar.  The 2011 vintage is sold out, but the 2012 is freely available. (received via media release from Hazell Public Relations and Wine Consultants)

*   Intoxication of passengers is the biggest cause of unruly behaviour on board airlines, and 8000 incidents were recorded in 2013.  The International Air Transportation Association (IATA) wants airport ground staff and bar staff to help prevent excessive drinking by passengers before flights, it being the right of crew and other passengers to travel without disturbance.

*  An economist has disputed that South Africa is heading for a recession, the macro economy doing better than the GDP data suggests.  A growth rate of 4% is estimated for the next two years, coming from Tourism, a revision of labour legislation, and electricity supply improving.  Strikes and salary demands are contrary to foreign investments.

*   South Africa has no cruise liners, and this is a disadvantage for the local economy, says the South African Maritime Continue reading →

WhaleTales Tourism, Food, and Wine news headlines: 23 May

WhaleTalesTourism, Food, and Wine news headlines

*   South Africa welcomed close to 10 million international tourists in 2013, a 5% increase between 2012 and 2013.  The following paragraph from eTurboNews makes no sense at all, appearing to be copy and pasted directly from a SA Tourism media release: ‘The latest release from Statistics South Africa (StatsSA) indicates that international foreign arrivals to South Africa reached its highest levels ever, namely 14,860,216 in 2013. This 10.5% increase in international foreign arrivals (over 13,451,565 in 2012) translated to 9.6 million international tourist arrivals. All international tourist arrivals combined increased by 4.7%, while the overseas tourist arrivals sub-category increased by 7.1%‘!  Minister of Tourism Marthinus van Schalkwyk said: ‘South Africa’s tourism industry continues to show good growth and we remain confident in the ongoing performance and sustainability of the sector‘.  Visitors from Europe grew by 7%, especially from Germany (14% growth), France (10%), and Italy (10%).  The growth from the UK was a mere 1%, while the USA grew by 7%, and China by 15%, now our 4th largest source market. Tourist growth from Brazil was 6%, while that from Africa was 12%. The growth in Tourism’s contribution to the GDP was 3% in the past year. The Tourism industry accounted for 5% of the country’s employment.  The Minister announced the development of a ‘dashboard‘, enhancing our country’s collection of ‘insights and market intelligence’, which is to be launched in September.

*   SA Tourism has criticised the restricted visa issuing service by our embassies in India and China, Continue reading →