Eswatini has partnered with the International Trade Centre (ITC) to enhance travel trade data collection, aiming to boost growth in its booming tourism sector.
The initiative seeks to address gaps in travel statistics, which have limited the country’s ability to fully capitalise on intra-African trade.
“A lack of reliable trade data has limited Eswatini’s ability to benefit from intra-African trade,” noted Melusi Masuku, Principal Secretary at the Ministry of Commerce, Industry and Trade.
In 2023, Eswatini’s travel sector contributed $52 million to the economy – a 51-percent increase from 2022 – with export revenues from travel exceeding $21.4 million.
Despite this growth, data collection challenges have hindered efforts to maximise trade opportunities.
To tackle these issues, ITC is working with Eswatini’s Central Bank, Central Statistics Office and Eswatini Tourism Authority to refine travel data systems.
Eswatini’s dual currency system – using both the lilangeni and South African rand – has complicated trade reporting as most official data relies on bank declarations, missing many exchanges.
ITC aims to help Eswatini automate data processing and publish bilateral travel trade statistics, aligning with new global standards such as the Balance of Payments Manual, Seventh Edition.
JN/APA