THE IMPACT OF THE COVID-19 PANDEMIC ON SOUTH AFRICA’S BIODIVERSITY SECTOR
All sub-sectors of the biodiversity economy and its value chain business activities have experienced huge financial loss, especially regarding wildlife economy, bioprospecting, and ecotourism.
This turbulent period has resulted in:
- Loss of jobs
- Economic loss in income for individuals and businesses
- Loss of tourism revenue due to travel restrictions, cancellations of existing bookings and a decline in new bookings.
Although the pandemic remains a threat, the Biodiversity Sector, if supported, can play a major role in the recovery stage.
The economy of South Africa and the wellbeing of its people depend on the Biodiversity Sector to provide employment, food, clean water, as well as numerous products and services resulting from the Biodiversity Sector’s value chains.
Investing in the Biodiversity Sector may be an important component in South Africa’s post-COVID-19 response. Investment in this sector will maximise opportunities, resulting in economic stimulus and the stimulation of job creation, as well as sustainable use and management of conservation areas and protected areas.