The World Cup hangover for South Africa is proving particularly bitter, and not just because of the football. After a humiliating group-stage exit, rival African nations have been quick to gloat. But the real story for British investors and holidaymakers is the Rand, which has been hammered by the dual shocks of political uncertainty and sporting failure.
The currency is now trading at levels that make a safari or a Cape Town vineyard tour look like a bargain basement sale. The UK tourism sector, ever the opportunistic vulture, is circling. Package deals are being repriced, and travel agents are scrambling to capitalise on what they see as a window of 'Rand weakness' that could last until the next election cycle, at least.
The market, as ever, has no sentiment, only price. And the price of a South African holiday just got a lot cheaper.
