AFTER THE BELL: Welcome to SA: The country is back in business for global tourism

South Africa is such an odd place. It always surprises in ways that you don’t expect. But one thing I have always loved is the feel of the country. You can be on your 25th load shedding of the day, and you look out on one of the hundreds of glorious vistas that bedeck our country, and somehow everything feels better again. At least, until you try to turn on a light.

This beauty and the temperate weather and the widespread warmth of the people is such an obvious advantage that even South Africa’s politicians understand its utility as an income-earner and job-creator. What a turnaround – and what a relief for the company, its employees and shareholders. And what a torrid time the company has been through, like its main comparators, Tsogo Sun and City Lodge.

Sun International, for example, is trading at around R30 now, way off its peak of R230 in 2015, even though the share has risen steadily from the start of the year. Tsogo’s bounceback has been more aggressive, but it too is quite a bit short of its highs. Although we all are enthused about tourism, and rightly so, the question for me is, why is it so small?

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