Opinion: African local currencies

The volatility of African local currencies often has far-reaching impacts on inbound tourism and can lead to major challenges but also to profitable opportunities for tour operators.

Zambian tour operators and tourism service providers breathed a sigh of relief earlier this month when the ban on U.S. dollars (USD) for domestic transactions was lifted, saying that this would stabilize prices for tourism products and boost tourism to the country. South African tour operators, on the other hand, are reaping the benefits of a continuously depreciating South African currency, which has made holidays increasingly cheaper for their international clients. So, which offers the better option for American travelers: quoting in foreign currency or in USD? Both have upsides and downsides, say industry players... Read the full article here.