Holiday Spending Up 7.9% with E-Commerce and Travel Boost

Summary

Holiday spending in South Africa has increased by 7.9%, driven mainly by growth in e-commerce and travel sectors. More people are shopping online and booking trips, reflecting a positive shift in consumer behavior during the holiday season. However, amid these changes, nearly half (47%) of cyber insurance claims are being denied as insurers apply stricter rules to manage risk. This highlights the importance of understanding insurance policies carefully, especially for those relying on digital transactions. Meanwhile, efforts are underway to prepare young South Africans for the future job market, aiming to equip them with relevant skills for an evolving economy. Additionally, there is growing debate about the effectiveness of the current Broad-Based Black Economic Empowerment (BEE) policies and whether they are suitable for South Africa's future development.