More than 1,400 South African corporations have been liquidated in 2022 so far, and 170 were registered in September, according to data from Statistics South Africa.
The total number of settlements increased by 11. 8% in September 2022 to September 2021, and the overall number of settlements increased by 2. 1% in the third quarter of 2022 to the third quarter of 2021.
There were thirteen more settlements than the 157 recorded in August.
A minimum of 3. 7% recorded in the first nine months of 2022 (1,425 settlements) compared to the first nine months of 2021 (1,479).
The financial, insurance, real estate and business sectors are the hardest hit by the settlements, registering 58 closures in September and 472 since the beginning of the year. It is followed by commerce, catering and accommodation, with 33 and 281 settlements for the month and year to date.
The only two sectors recorded double-digit settlements, with eight, community, social and non-public registration, seven-record production and six-register structure.
About 423 corporations are classified, accounting for 30% of the total.
Liquidation data shows that companies in the catering and accommodation sector remain under pressure, with thirteen companies in this category in the process of liquidation.
However, the knowledge published on the tourism sector on Monday (October 24) showed a trend of change, with revenues generated through the sector on track after two years of slowing operations.
Measured in nominal terms (current prices), the overall profit of the tourist accommodation industry rises by 55. 4% from August 2022 to August 2021.
Accommodation profits increased by 80. 3% year-on-year in August 2022, as a result of a 54% increase in the number of nights sold and a 17. 1% increase in average profit consistent with nights sold.
The main participants in the accumulation of accommodation revenues are hotels (118% and contributing 46. 4 percentage points) and “other” accommodations (59. 1% and contributing 29. 9 percentage points).
Accommodation revenue increased 89. 5% in the 3 months ending August 2022 to the 3 months ending August 2021. The main participants in this increase were hotels (157. 7% and contributed 56. 5 percentage points) and “other” accommodations (53. 2% and contributed 56. 5 percentage points). 28. 6 percentage points).
Total hosting profit R5. 2 billion, Stats SA said. Accommodation earnings exclude sales of places to eat and bars and “other” earnings.
Despite the revenue accumulation, Stats SA noted that the tourism sector is still at its pre-Covid levels.
Income levels
The same challenge arises in vacuum grades, which are below pre-Covid grades and remain solid as the year approaches peak season.
Hotel occupancy rates remain low at 35. 4%, while guesthouses are down by 21. 5%.
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