Middle to high-income earners are driving a recovery in SA
New BER Surveys on economic recovery in SA show the hotel and restaurant sector are the happiest they’ve been since Q1:2014, with a confidence score of 75. Growth in spending has increased from an average of 0.5% before the pandemic in 2019 to 4.7% last year. There’s even light at the end of the tunnel for high food prices, the BER says: “Beyond the next several months, the food price outlook is more favourable.”