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The latest INE bulletin on Confidence and Economic Climate Indicators (ICCE) reveals that the confidence of businesspeople in the accommodation, catering and similar sector “fell sharply, compared to the previous month” in January.
The unfavourable situation in the hotel sector was due to the negative evaluation of components covered by the “sector synthesis indicator”, with a special emphasis on turnover, “which declined sharply compared to December”.
The January hotel capacity forecast also declined sharply, accompanied by a reduction in current demand and a forecast of high prices in the following months.
The tourism sector, in general, is among the worst affected by the economic crisis that the country has experienced over the last two years, which has led to the closure of some establishments with the loss of hundreds of jobs.
The INE report shows that, in January, about 31 percent of companies in this sector faced some limitation on their activity, equivalent to a 2 percent increase in companies facing obstacles in the normal performance of their activities.
The main factors mentioned continued to be low demand and competition.
The accommodation and catering sector considered in the INE publication covers the hotel sector, including guest houses, lodges, inns, restaurants, bars and canteens, and catering services.
Confidence and Economic Climate Indicators
The INE’s Confidence and Economic Climate Indicators is a monthly survey of the economic situation in Mozambique and expresses the opinion of economic agents on the progress and prospects of their activity, particularly on employment, demand, orders, prices, production, sales and activity limitations.
The information is compiled on the basis of the monthly economic survey carried out by the National Statistical Institute on companies in the non-financial sector with a view to assessing the economy’s behaviour over the short term, in order to provide users with information on the management and monitoring of economic policy.Source: O País