FNB/FENATA travel index declines

January 24, 2018, 5:38pm

According to FNB analyst Josephat Nambashu, during the third quarter of 2017, the FNB/FENATA travel index contracted by 5.7% in real terms.

 This decrease, however, was an improvement from -20.0% and -16.2% recorded in the previous two quarters as the industry enjoys its peak season, underpinned by a strong increase in tourist numbers and higher seasonal demand.

The analyst said the increase in tourist numbers was further pronounced in bed occupancy rates during the third quarter. 

The average bed occupancy rate for the quarter was at an all-time high and 2.7% higher when compared to the corresponding average rate registered during the corresponding period a year earlier.