… Despite economic slowdown eating into growth
By Confidente Repoter
FNB/FENATA Travel Index growth has recovered slightly, posting -5.7 percent in third quarter of 2017 (Q32017), up from -16.2 percent in the previous quarter, while tourism operators and lodge owners remain optimistic about future performance, despite a slowing economy.
FNB Analyst Josephat Nambashu explained that during the third quarter of 2017, the FNB/ FENATA Travel Index contracted by 5.7 percent in real terms.
“This decrease, however, was an improvement from -20 percent and -16.2 percent recorded in the previous two quarters, as the industry enjoys its peak season, underpinned by a strong increase in tourist numbers and higher seasonal demand,” Nambashu said.
He added that this increase in tourist numbers was further pronounced in bed occupancy rates during the third quarter.
The average bed occupancy rate for the quarter was at an all-time high and 2.7 percent higher, when compared to the average rate registered during the corresponding period a year earlier.
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