All indicators point towards a recovery in the hospitality and tourism sector, with a recent article by Reuters on News 24highlighting the fact that this is an industry that will benefit from the weaker rand as South Africa becomes more affordable for international tourists.
On 30 January, 2014, (hours after the rand slid to its weakest against the U.S. dollar since 2008,) Finance Minister Pravin Gordhan urged industries earning foreign currency such as tourism to seize the moment.
"Our challenge is whether we have a private sector that is agile enough to seize the opportunities presented by a weaker currency and use that to their advantage," he said.
International confidence in the South African hospitality industry is at one of its highest levels ever, with US hotel group Marriott International announcing in mid-January it was buying South Africa's Protea Hospitality for R2bn ($180m).
“After what appeared to be an endless economic downturn, the hospitality industry is now experiencing an upswing. Hostex, which returns to Cape Town in May, presents agile and proactive companies in this sector with an unparalleled opportunity to cut through clutter and sell directly to serious buyers in active buying mode,” comments Brad Hook, Portfolio Director of Hostex Cape.
From 21 to 23 May 2014, Hostex – a hospitality, catering and food services expo – will provide a showcase of the best the industry has to offer at the Cape Town International Convention Centre.
“No other marketing medium gives sellers of products and services in this industry the opportunity to connect face-to-face with over 5,000 decision-makers in just three days,” continues Hook.
Hostex’s Post Show report, available on the company’s website, indicates that 85% of visitors either make or influence purchasing decisions, highlighting the quality of the Hostex Cape visitor.
“Enormous emphasis is placed on attracting the right visitor to the show, both through a highly targeted trade marketing campaign and by providing visitors with features and attractions that deliver real value. Most notable in this regard is the Host-ED theatre, where industry professionals wishing to gain insights that will help them to capitalise on the upswing can attend free-to-view seminars on what’s trending in the industry, presented by experts with significant intellectual capital on a broad spectrum of topics affecting the industry right now,” continues Hook.