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Pretoria - Top business people and investors worldwide have had their travelling wings clipped, says Cheryl Mulder-Verbruggen, co-owner of the Cape Courtesy travel agency, which offers a specialised travel service for this market.
According to Mulder-Verbruggen, who has been working with this select group for 19 years, travel activity in this market segment has fallen by about 70% since May.
"Our Chinese clients are now worried that their property prices could drop by up to half, while British clients are concerned about the future of their banks."
Instead of flying to South Africa simply for a meeting, they are now using telephone conferencing or combining their appointments with other business opportunities. When visits are indeed undertaken, the accompanying entertainment is scaled down and clients look for the best value for their money.
Michael Tatalias, chief executive of the SA Tourism Services Association (SATSA), reports that operators in general are having difficulty, but those in the entertainment market even more so.
Tatalias says that, according to research by the United Nations' World Tourism Organisation, in current market conditions tourists tend to take one long holiday rather than a number of short trips, to the benefit of long-distance destinations like South Africa.
He says the many special opportunities such as next year's Confederation Soccer Cup and the 2010 Soccer World Cup will cushion the industry against the downturn in tourism.
- Sake24