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Southern African tourism: the 'multiplier' effect
29 November, 2016

For every night that a tourist stays over at a high-end game lodge in a remote part of southern Africa, 14 people in the surrounding community benefit indirectly from the income generated by the services offered by the industry. As lodge staff send their remittances back home, the money circulates within these rural communities, helping to grow the local economy.

This is the finding of Dr Sue Snyman, a tourism analyst and economist associated with UCT’s Environmental Policy Research Unit (EPRU), in the Faculty of Commerce. “This is the multiplier effect of tourism in remote regions of the subcontinent,” explains Snyman, who has published several papers in the past year on the basis of the findings of her 2013 doctoral thesis.

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‘I’ve always had a thing for creating value’
08 September, 2016

Fred Ajusi learnt from an early age the importance of saving as well as making your own money.

A fourth year BCom economics and finance student, Ajusi takes pride in being financially savvy.

“People call me stingy,” he chuckles. “They think I’m a stingy guy because I don’t like to spend money, and I think that it’s not that I’m stingy; I just understand the value of money,” explains Ajusi. “When you understand the value of money, and you realise the idea behind spending, you realise that small changes that you make to your spending habits can have a major impact on your long-run financial standing.”

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A minimum wage needs to balance risk and opportunity, says DPRU
27 June, 2016

The benefits of setting a national minimum wage at R2 447 per month could, on average, outweigh the costs, but setting it at R3 400 could risk far greater job losses, warns a research paper from UCT’s Development Policy Research Unit (DPRU).

Weighing up the costs and risks of setting a national minimum wage at these two levels, the DPRU, in a study led by Professor Haroon Bhorat, argue that a baseline of R2 447 could result in job losses of up to 281 000 people across the board. This is far more palatable than the more than 500 000 low-wage workers who might expect to lose their jobs should the baseline be set at R3 400.

But when it comes to the bigger picture of socio-economic equity, a national minimum wage would only be one – and perhaps a minor – component of a broader social programme to reduce inequality, boost employment and grow the economy.

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