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Cape Town - Despite a drop in spending by visitors to South Africa last year, tourism maintained its status as the "new gold" of the country's economy, says SA Tourism CEO Moeketsi Mosola.
Writing in his organisation's annual report for the 2004/05 financial year, tabled at parliament on Wednesday, he said visitors spent R47.8bn in South Africa during this period.
For the first time in South Africa's history, tourism had eclipsed gold as an earner of foreign exchange.
The report states tourists spent an average R1 532 a day last year while in South Africa. The average duration of their stay was nine nights.
Gauteng and the Western Cape were the most visited provinces, and the top South African highlights were "shopping, nightlife, social and wildlife".
"Total foreign direct spend (during 2004/05) was R47.8b, R15bn more than gold exports," Mosola said.
This had created 27 000 new direct jobs.
According to the report, total foreign direct spending during the previous (2003/04) financial year amounted to R53.9bn.
Mosola said South Africa had recorded its highest-ever number of foreign tourism arrivals during 2004/05 - more than 6.6 million visitors, a 2.7% increase over the previous year.
An analysis, comparing 2004/05 to the year before, of what tourists did with their money showed the greatest decline was on capital goods - defined as "largely discretionary items (from houses to jewellery and art works)".