The R1.2-billion Tourism Equity Fund launched by government in January 2021 is, in principle, to be welcomed – but it is unlikely to meet the objective of broad-based transformation and, in its current form, will retard prospects for an inclusive recovery.
Tourism is South Africa’s silver bullet.
Much more than its 8.6% (pre-Covid-19) contribution to GDP, tourism is perfectly suited to the realities of our low-skilled, youthful demographic. It is labour intensive, employs a disproportionate number of women and serves as an accessible platform for large numbers of small businesses to set up and thrive – even in remote areas, which offer few alternative economic opportunities.
While Covid-19 has been an unmitigated disaster…