Sector shows steadfastness in October amid tourism uptick
The hospitality industry in Namibia displayed resilience in October, maintaining a steady national occupancy rate of 65.5%, consistent with figures from the previous month, as per the latest analysis by research and investment firm Simonis Storm Securities (SSS).
A report released recently highlighted a notable increase in the occupancy rate of accommodation establishments, rising from 54.6% in October 2022 to 59.2% in the same month this year.
The Hospitality Association of Namibia (HAN) underscored the significance of leisure travel in bolstering the occupancy rates across these establishments.
In October, leisure travelers accounted for a substantial 89.6% of occupancy, while business travelers constituted 9.9%. However, there was a decline in conference travelers, making up only 0.4%, down from 1.2% in September.
October saw the coastal region securing the highest occupancy rate at 71.9%, marking a significant milestone surpassing 70% for the first time since October 2018. Similarly, the Northern region maintained a robust rate of 69.2% for two consecutive months.
Conversely, the southern and central regions recorded comparatively lower rates of 62.1% and 60.8%, respectively. These statistics underscore the varying tourism demand across different regions, with the coastal and northern areas being favored destinations among tourists in October 2023, noted SSS.
SSS highlighted that the majority of guests in Namibian hospitality establishments primarily hailed from Europe, with Germany, Switzerland, and Austria collectively constituting the largest share of international tourist arrivals at 42.3%.
Highlighting the critical contribution of the tourism sector to Namibia’s economy and job creation, SSS reiterated the pivotal role of the industry, interconnected with other sectors.
Moreover, SSS pointed out the anticipated benefits to Namibia’s hospitality industry from the collaboration between Namibia Wildlife Resorts and Germany’s Inter-Cultural Relations Foundation, signaling positive prospects for the sector’s growth and development.
