ECONOMY

 

The aftermath of xenophobia

NEWS

May 6 th, 2015

After the wave of xenophobic violence in April, SA’s government is now concerned about the long-term consequences for the country's economy. The various attacks on foreigners have severed ties with several investment partners. Some embassies have advised their citizens against travelling to SA. In an already gloomy economic climate, SA companies' overseas activities could be negatively impacted. Authorities also fear consequences for exports, besides foreign investors who create jobs in the country. SA's international reputation has been damaged. Hosting the 2010 FIFA World Cup Soccer led to an increase in the tourism industry but images of violence and looting caused a decline in this sector.

 


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