Business101: How to gear up your business for a local market
DESPITE the gradual easing of restrictions on international travel, the tourism industry – one of the hardest hit sectors by Covid-19 – is bracing itself for a difficult festive season.
With a 75 percent revenue loss predicted this year, including an estimated R3.2 billion from foreign visitors, the sector needs to readjust its focus towards the domestic market.
Those who have always had a local focus, should be aware that there will likely be a number of new competitors from those who catered exclusively for international tourists.
Here are tips for gearing your businesses to a local market:
Ben Bierman is a managing director at Business Partners Limited