Middle to high-income earners are driving a recovery in SA’s hospitality sector
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GUEST – Sanisha Packirisamy - Momentum Investments economist
Consumer Pulse report for the first quarter of this year found that the recovery path in hotels and restaurants alongside vehicle sales points to an unbalanced recovery in the spending power of consumers. Higher-income earners are displaying higher levels of purchasing power, reported Momentum. High-income and middle-income earners have experienced a faster rebound from the impact of the pandemic compared to low-income earners.
Consumer Pulse report for the first quarter of this year found that the recovery path in hotels and restaurants alongside vehicle sales points to an unbalanced recovery in the spending power of consumers. Higher-income earners are displaying higher levels of purchasing power, reported Momentum. High-income and middle-income earners have experienced a faster rebound from the impact of the pandemic compared to low-income earners.
