Sat, 14-Mar 2026

Search news articles
  • Home
  • AllAgricultureBankingAviationEnergyManufacturingTechnologyStartups
  • Geopolitics
  • Kenya Business NewsAfrican Business NewsGlobal News
  • Press Releases
  • Shows
  • Best Places to Work 2026
Subscribe
Events
Subscribe
  • Home
  • AllAgricultureBankingAviationEnergyManufacturingTechnologyStartups
  • Geopolitics

    Contact Us

    Media Queries & Partnerships:[email protected]

    About Us

    We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe.

    Disclaimer

    The information contained in this website is for general information purposes only.
    © 2026 Wallstreet Africa Technologies LTD.. All Rights Reserved.
    1.0.32

    South Africa's Hospitality Sector Income Drops 98% YoY in May

    Wandiri
    By Wandiri Gitogo
    - July 22, 2020
    - July 22, 2020
    Kenya Business news
    South Africa's Hospitality Sector Income Drops 98% YoY in May

    Data from Statistics South Africa (SSA) shows that the covid19 pandemic and lockdown regulations since March 27 have had an extensive impact on the tourism sector.

    In this case, incomes for the tourist accommodation industry decreased by 98 percent in May 2020 compared to May 2019. SSA says that drop was due to 98 percent decrease in the number of stay unit nights sold and a 24.2 percent decrease in the average income stay per unit night sold.

    The Kenyan Wallstreet
    Stay unit nights sold; YoY percentage change

    In May 2020, all accommodation types recorded large negative year on year growth in income. Hotels were the most affected entities as they recorded 98.2 percent drop in income from accommodations.

    Other affected accommodation entities include caravan parks and camping sites recording 100 percent drop in incomes, guest houses and guest farms accommodation incomes dropped by 99.7 percent, while other accommodations incomes dropped by 98.8 percent.

    Furthermore, SSA data shows that income from accommodation decreased by 77 percent in the three months ending May 2020 compared to the three months ended May 2019.

    Total tourism spending in 2018 in South Africa was R273.2 billion with domestic tourism accounting for 56 percent of total spend and 44 percent was international inbound travel.  Tourism in South Africa supports 1.5 million jobs and contributes 8.6 percent to the GDP.

    RELATED

    South Africa Expects International Tourist to Return in 2021

    Independent Board to run South African Airways

    The Kenyan Wall Street

    We are a leading integrated digital content platform providing in-depth business and financial news across Africa & the globeSubscribe
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...

    Your edge in markets, powered by AI

    Explore cutting-edge insights with our AI assistant, delivering real-time analysis, personalized news, and in-depth answers at your fingertips.

    Sign Up

    Show me today’s top trades

    Explain the market in simple terms

    What’s my next smart move?

    Report Issue

    Wall Street Africa Business Intelligence

    Access exclusive news, expert analysis, and tools designed to give investors an edge.

    Fixed Income

    Real-time bond pricing with instant calculations, auction data, yield curves, and trend analysis for Africa’s fixed-income markets.

    Local and Global Insights

    Unique perspective with a blend of local and global news and analysis, tailored for African investors.

    Real-Time Economic Indicators

    Monitor inflation, currency movements, and other key economic indicators for African countries.

    Interactive Data for Local Markets

    Visualize trends and compare markets across Africa with interactive charts and tools.
    Wallstreet Africa
    Wallstreet Africa
    Wallstreet Africa