SA Treasury's Cost-Cutting Measures Raise Concerns for Hospitality Industry

  • 📰 SATodayNews
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

In a bid to bolster fiscal responsibility and reduce government spending, the South African Treasury has amongst other cost-cutting, implemented restrictions on government travel, conferences, and catering, which is causing significant apprehension within the hospitality industry. ANEW Hotels & Resorts Sales & Marketing Director, Alan Campbell says although well-intentioned from a fiscal perspective, the decision […]

In a bid to bolster fiscal responsibility and reduce government spending, the South African Treasury has amongst other cost-cutting, implemented restrictions on government travel, conferences, and catering, which is causing significant apprehension within the hospitality industry.

“The tourism and hospitality industry relies heavily on government-related travel, bookings, and events, playing a pivotal role in sustaining the local hospitality sector. This announcement could jeopardise tourism just as we were recovering from a series of unprecedented challenges, including the COVID-19 pandemic.”

He advocates for a more consultative approach with industry bodies to plan for and assess the long-term consequences of these restrictions and to offer a timeframe within which to adjust. “Collaboration, innovation, and flexibility will be crucial in sustaining the industry and safeguarding jobs and economic growth. ”

“A reduction in government-related travel could lead to a freeze on new appointments, reduced working hours, and the postponement of upskilling programs. This, in turn, would have a detrimental effect on the livelihoods of many and could exacerbate unemployment rates,” warns Campbell.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 44. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia stocks fall as treasury yields, dollar higher: Markets wrapSpot gold fell 0.1% to $1 913.89 an ounce.
Source: Moneyweb - 🏆 5. / 77 Read more »