Hospitality Association of Namibia (HAN)

Local tourism declining because of inflation

Local tourism declining because of inflation

Tujoromajo Kasuto Simonis Storm Securities has revealed that local tourism might decline in the near future, as local travellers battle with expensive food, fuel and accommodation prices. Theo Klein, an economist with the firm, states that the hotels, cafés and restaurants category has recorded high single digit inflation rates in recent months, averaging nine percent year on year. ‘’Disaggregating this main category, we see that accommodation services have only recorded double digit inflation rates and average 15.1% YTD. This is evident that local hospitality establishments have little capacity in absorbing a rise in input costs (e.g electricity tariffs, food, fuel,…
Read More