With the
continued depreciation of the naira against major world currencies,
particularly the US dollar, most outbound summer holiday seekers in
Nigeria are being forced to consider alternatives, including outright
cancellation of this year’s vacation abroad.
The official exchange rate is N196 while the black market rate is N230. This N23 margin between
both rates, along with the 19 percent drop in the value of the naira
against the dollar this year, on account of the slide in crude prices,
is bloating the cost of foreign holiday travel for Nigerians.
Many would-be summer holiday travellers
are being forced to limit their travel to the African continent, or even
to destinations within Nigeria, often abadoned for their lack of
facilities, security and engaging activities.
BusinessDay investigations reveal that
foreign airlines and hotel bookings, which typically would have piled up
ahead of the summer holiday, have declined below 30 percent, against an
average of 40 percent this time last year, which itself was hindered by the Ebola pandemic.
The implication is that some overseas
hotels, especially in the US, are now disposing rooms earlier booked by
Nigerian holiday seekers, as the holding period expires.
The investigation also revealed that with
the increasing exchange rate, an average holiday outing for two persons
for a weekend abroad (though depending on the airline, destination, and
type of hotel) would cost between N1 million and N1.5 million, while a family of four would spend an average of N3 million.
This reality has brought gloom to travel
and tourism businesses and tour operators who mainly service people
going on vacations abroad.
“By this time last year, I had sent five
clients to the Caribbean, two to Los Angeles, and six to Dubai. Till
now, they are not forthcoming. One told me he would rather use the money
to complete construction of his house, while the other said children’s
school fees were his new priority.
“All of them are putting off their
vacations due to the high exchange rate”, Magnus Onyeka, a Lagos-based
tour operator lamented.
Some international airline carriers such
as Lufthansa, Delta, United and British Airways, among others, are also
feeling the impact, as most travelers now resort to cheaper but
connecting flights.
Already, hotels and resorts across the Carribbean
, Dubai, UK, USA, and even South Africa, are concerned about the ugly
trend, as Nigerian tourists who are top among their guests list and
cherished because of their heavy spending culture, would be missing from
the summer global vacation.
However, an official of Atlantis Resort
Dubai, who pleaded anonymity, said many of his usual guests from
Nigeria, especially politicians, are shying away from ostentatious
lifestyles now, because of the fear of being trailed by the anti-money
laundering and security agents.
That, for him, is a reason not to expect many Nigerians this season.
No matter the issue, Nigerians will still
visit, especially the super rich and those on corporate sponsorships,
while the average holiday seeker will definitley cut down on luxury
expenditure such as expensive champagne, casinos and chauffeur-driven
tours. But that will mean less fun for them”, Onyeka said.
Femi Salako, a travel agent, says most
of his Nigerian clients do not listen to business advice that would
benefit them in the long run.
“I told some people to start planning for
their next summer holidays as they are returning from one, and also to
buy airline tickets during the off season, when they are cheap, but they
hardly listen.
“You have to have deep pockets now to
travel, because everything has gone up with the dollar. South Africa,
and even neighboring Ghana is expensive now”, Salako said.
Ikechi Uko, a travel and tourism expert,
says the best time to travel within the country is now that oversea
destinations are expensive, but most Nigerian holiday seekers, according
to him, would rather spend their life savings to jet out of the country
to see the same thing Obudu Mountain Resort offers, just for status
sake.
On the other hand, it is time to develop
world-class destinations in Nigeria, invest in hospitality
infrastructure, quality offerings and manpower, to woo Nigerians back to
the country, rather than moving the little money in the country out to
service and sustain the hospitality indsutry abroad, he urged.
OBINNA EMELIKE
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