"The macro-economic study into this figure showed that 25% of this R22bn is directly related to wine tourism, and the indications are there that this is set to grow," said Dr Van Rooyen.

"With world-wide production levels outstripping the amount of consumers, South Africa must tap into its unique wine tourism offerings. By maximizing this opportunity wine tourism can give the industry stability in times of uncertainty," he said.

Van Rooyen said the faith shown by foreign investors in the South African wine industry, like the French Laroche Group that have added L'Avenir to its extensive wine interests in France and Chile, showed that certain foreign wine pundits had more faith in the local industry than many South Africans have.

"Last year this time my phone was ringing off the hook as journalists and other interested parties sought comment on the 'crisis in the South African wine industry'," said Van Rooyen. "This crisis was apparently causing more wine farms to be on the market than wine brands available, and led to a somewhat gloomy picture being painted of the South African wine industry."

"I am not going to comment on this so-called crisis as my day-job has me talking enough economics and wine business."

"But what I do want to say is that it would sometime appear that influential wine people from other corners of the wine world are more optimistic about the South African wine industry than we ourselves are," said Van Rooyen.

"By incorporating L'Avenir in his international wine portfolio, Michel Laroche, head of the Laroche Group has done exactly this. Investments of this nature show that we truly are a world-class industry, not having to stand back for anyone."

 

Caption: