South Africa: Strong Rand Hits World Cup Fans

Johannesburg — THE continuing strength of the rand is hurting SA's tourism industry, particularly in the run-up to the Soccer World Cup, says Adrian Gardiner, CEO of hotel and leisure group Mantis.

"The rand is about 30% overvalued and many fans are being turned off by the high cost of travelling to SA," he said yesterday. "The strong rand is making hotel accommodation expensive even if we have not raised our rates."

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.