Durban - If you have been looking forward to travelling overseas, now is the opportune time, according to travel agents and economists.
Thanks to a stronger rand, which traded at R13.48 on Friday, experts have not only encouraged overseas trips but offshore investments as well.
Travel expert for Flight Centre Barry Scharneck said with the stronger rand many overseas destinations were accessible for South African travellers.
“There are always plenty of interest in Europe and USA, but with the currency being stronger it makes the trips ideally economical.
“The main destinations like Bali and Phuket are increasing in travellers from South Africa with travel becoming accessible with a stronger economy for everyone,” he said.
Director for Avoca Travels Ebrahim Vabathia said people were inquiring about overseas travel since the rand strengthened.
He said Mauritius, Zanzibar, Far East and Middle East were value for money destinations.
He said people wanted to visit Europe and the UK, but within their budget.
“Only time will tell whether the rand strengthening would make an impact on travel but for now it’s looking good,”
Chief economist of the Efficient Group Dawie Roodt attributed the strength of the rand to the results of the local government election.
“The local government election has shown that democracy is working well and that the market is doing well.
“The financial markets are disappointed in the ANC and have lost a lot of support. It is also good that the US dollar has weakened a bit.
“It is now the time for people to invest and make good financial decisions.
“While it is hard to make short-term predictions, anything can happen within the next few weeks. The rand can do better, however on a medium to longer term it will be weaker,” he said.
Economist David Shapiro from Sasfin said SA was generally a weak currency because the inflation rate was relatively high to other countries.
“South Africa is back to where they were a year ago. It is something that we had and have now gone back too. However, this news has taken out the worry many South Africans had earlier in the year.
“I believe that people should strike while the iron is hot and start investing in overseas investments.”
Shapiro said travellers should also take advantage of this news.
Sunday Tribune