The South African rand dropped close to record lows Thursday, just a day after the country’s president replaced his embattled finance minister with someone with almost no experience.
Compared with just a year ago both the US dollar and British pound are now worth 33% more, making South Africa a cheaper proposition for visitors. As most South Africa-based operators also depend heavily on the domestic tourism market, it is unlikely they will raise prices to accommodate the falling rand. Read more: tourismupdate.co.za