Living in South Africa, you have to learn to take the bad with the good. This beautiful country has faced both exciting and challenging times. But South Africans found themselves facing the latter when Finance Minister Pravin Gordhan was dismissed and replaced by Home Affairs Minister, Malusi Gigaba in the past week. As a result, the country is currently facing a number of economic implications. One of these includes a credit rating downgrade to ‘junk status’. While this could cause unexpected challenges for those living in South Africa, it certainly is excellent news for foreign travellers and the South African tourism sector.
With the Rand dropping by 2%, now is the perfect time to travel to South Africa! The GBP currently stands at R17.20, the USD at R13.73 and Euro at R14.70. There is a good chance that the Rand will continue to fall as President Jacob Zuma carries out his cabinet reshuffling. This means foreign travellers can look forward to extremely affordable holidays to our lovely country! With plenty of outbound tourists pouring into South Africa whilst making the most of the weakening Rand, this will have a very positive effect on our local tourism sector.
If you’re not convinced that now is the ideal time to visit South Africa, this Finance24 article may change your mind: