Econex has created an advanced tourism forecasting and sector analysis practice area over the past two years. The unit utilizes some of the latest econometric techniques coupled with extensive industry experience to offer an in depth capability not often found in this sector. The unit is headed by Cobus Venter who joined Econex after more than a decade in the hotel and tourism industry. Econometric modeling is managed by Willem Boshoff.
Initial focus has been on creating the quarterly Tourism Tool forecasting inbound volumes from three major source markets into South Africa and the creation of the Econex Composite Domestic Business Tourism series and forecast. This publication is limited to subscribers only. Econex is further developing its capacity to provide leading edge economic impact assessments for the hotel and tourism sectors and has identified the economics of tourism as a major focus area for the company.
In addition to the work on forecasting and longer term impact assessments, several projects have been undertaken in the tourism economics sector including presenting to the National Department of Tourism on the impact of the recent recession on the tourism sector and a study for RETOSA on the state of tourism within the SADC community with Dr Mike Fabricius and Prof. Colin McCarthy. A study to determine the importance of tourism to the regions was recently completed for Stellenbosch and Franschhoek Tourism.
Cobus Venter also serves as a senior economist at the Bureau for Economic Research at Stellenbosch University while Willem Boshoff is attached to the Economics Department. When the need arises, the unit will comprise some of the full time staff economists at Econex namely Johann van Eeden and Marine Erasmus who both have extensive experience in sectoral analysis. The applicable academic associates will also be incorporated where appropriate.