Tourism shows meagre growth
FNB Namibia and Fenata this week released the latest Tourism Index. Sophia Snyman, Head of Tourism at FNB emphasized that the success of the Index is directly attributed to the strong partnership with FENATA.
“FNB Namibia is a proud supporter of the tourism industry in Namibia and has recognized the tourism sector as one of the cornerstones of the Namibian economy. The bank has a dedicated tourism desk and was the first institution to commit funds to the upcoming World Travel Summit. FNB Namibia also has a specialized stand at this week’s Tourism Expo” she said, explaining the bank’s involvement in the sector.
The index has contracted by 1% year on year and although this may seem small, the shorter term trend does suggest that the decline in the tourism index is accelerating. The decline was underpinned by fewer tourists hence bed occupancy rates were lower. The few tourists that did visit spent more than usual for this time of the year with the average swipe per tourist at the tourism establishments increasing by 28% year on year to N$4,800 per tourist. A weaker Namibia Dollar also meant that tourists had more money in local currency terms and could spend more.