Advertise with fastmoving.co.za
 
 

Wine tourism may double by 2025 as rand tumbles
Wine tourism may double by 2025 as rand tumbles

Wine tourism may double by 2025 as rand tumbles

LIQUOR NEWS

Fin24 - Feb 3rd 2016, 10:00

Johannesburg - Tourism based on South Africa’s wine industry has the potential to more than double in size in the next nine years as the declining value of the rand makes the country increasingly attractive to visitors, according to an organisation representing producers. 

The market could grow to R15bn in 2025 from R6bn now, said Rico Basson, managing director of Vinpro, which has 3 600 wine producers and cellars as members.

It’s among local groups supporting the Wine Industry Strategic Exercise (Wise) to develop the economic potential of wine tourism in South Africa, which is growing by 7% a year, according to Basson.

The market for international visitors “is a focus area, which could easily double and grow exponentially, especially with the weak rand,” Basson said by phone from Paarl near Cape Town.

The currency has slumped 28% against the dollar in the past 12 months.

The world’s seventh-largest producer, South Africa has almost 100 000 hectares of vineyards, mostly in the Western Cape Province. The country’s first wine was produced in 1659, according to industry group Wines of South Africa, and the industry now employs about 300 000 people.

Among the goals of Wise is to expand wine tourism from the key markets of the US, China, and countries in the rest of Africa, Basson said.From Fin24.com 

Related News

Bonnievale accolades shine a light on Cabernet Sauvignon excellence
17/09/2019 - 14:37
A string of recent awards for Bonnievale Wines has highlighted not only the winery's skillful viticulture and winemaking practices, but the region's premium quality Cabernet Sauvignon too.

Introducing the Cape Fine and Rare Wine Auction
23/08/2019 - 10:07
With the world market increasingly focused on the fine and rare wines from South Africa, the Cape Winelands is in a stronger position than ever to showcase its fine wine investments. This year, the Cape Winelands is proud to host its first-ever Cape Fine & Rare Wine Auction, an evolution of the historic Nederburg Auction in 1975.

New friends and old favourites at the 36th Nedbank Cape Winemakers Guild Auction
07/08/2019 - 15:02
Lovingly-made Cape blends, new categories, first-of-their-kind wines, and rare varietals will be coveted by buyers from far and wide at the annual Nedbank Cape Winemakers Guild Auction this October.

How to sell your wine in a changing market
22/07/2019 - 09:56
The future of wine is evolving and the industry has to adapt in order to survive and flourish. This is according to Robert Joseph, an internationally respected wine expert and winemaker.

Libertas appoints new cellar-master at Nederburg
17/07/2019 - 09:25
Seasoned, award-winning winemaker Lizelle Gerber is joining Nederburg Wines in Paarl as its new cellar-master, from 1 August.