Counting the cost of a global pandemic

Global restrictions on travel have dealt a devastating blow to African nations which depend on tourists and their hard currency to support an industry that employs millions of people on the continent. In SA, listed hotel group Sun International announced two of its casinos won’t reopen after the country’s coronavirus lockdown ends. Moneyweb reports that the Kenyan Government expects losses of as much as $511m in hotel-room revenue if the pandemic persists. Travel and tourism contributed $168bn to African economies last year, according to the World Travel and Tourism Council. Island nations, including Mauritius and Seychelles, heavily rely on the travellers for revenue. Several African economies without mineral resources and oil have managed to monetise their beaches and wildlife. Uganda and Rwanda are popular destinations for mountain gorilla trekking, while Mauritius, Seychelles and Comoros have drawn millions of tourists seeking seaside holidays. In 2019, the number of visitors to Mauritius was about 1.4m – that was more than its population of 1.3m. The picture changed when the Indian Ocean island nation imposed a lockdown from 20 March and arrivals for April, May and June were almost zero.

Full Moneyweb report