According to Inflation.eu, South Africa experienced a 5.05 % inflation increase from July 2017 to July 2018.
This increase also came amidst a 1% VAT increase imposed from April this year, plus repeated petrol price increases which would have had a substantial impact on people’s monthly expenses.
Despite these significant financial considerations, does this pressure on the South African consumer deter them from taking their holidays?
Just ahead of the upcoming summer holiday break, Lightstone Explore has evaluated holiday activity in July 2017 and July 2018 to identify whether these economic pressures have caused any behavioural changes.
Linda Reid, Chief Commercial Officer said, “We looked at a sample of approximately 250,000 telemetered, passenger Tracker vehicles active on South African roads from July 2017 to July 2018 (to correspond with the government school, 4-term holiday timetable) and August (to correspond to the private school, 3-term timetable) holidays and analysed their behaviours based on where we know their general home area is vs the distances travelled, & the duration of absence during this period.”