Market Research in Eswatini
The tiny Kingdom of Eswatini or Swaziland is in the south of the African continent. The Republics of Mozambique and South Africa surround this landlocked nation. Eswatini creates a fascination for geologists and visitors because harbors unique rock formations and beautiful mountain scenery. The kingdom also houses protected areas filled with various wildlife, birds, and flora.
The official languages of Eswatini are SiSwati and English. The country bases its religion on the spirits of its ancestors, and the Swazi inhabitants worship a creator and supreme God known as Mvelincanti.
The key industries of the Kingdom of Eswatini are agriculture and tourism, as a result, Agriculture provides most of the raw materials for local manufacturing industries and brings in the most income for the country. However, the COVID-19 pandemic has changed the game and led to forced reduced government spending.
South Africa provides the primary market for Swazi products. It buys Swazi sugar, cotton, citrus fruits, corn, and canned products.
Tourism is also an essential aspect of the economy. Eswatini’s rich heritage attracts visitors from all over and many take part in tours and wildlife reserve visits. Other attractions include:
The traditional Swazi Craft markets.
The Mlilwane Wildlife Sanctuary.
The Swazi Cultural Village.
The capital of Eswatini is Mbabane, and the main industrial area is Matsapa. The country has four main areas: Hhohho, Lubombo, Manzini, and Shiselweni. The most populated regions are Manzini and Hhohho, and the least populated are Shiselweni and Lubombo. The smallest province in Eswatini is Lubombo, a scenic, mountainous area. Lubombo supports nature and farming activities.
Unemployment in eSwatini was high even before the COVID-19 pandemic. The economy started to recover in the second half of 2020, however, the recovery was most evident in the service and industry sectors. But, domestic revenue is still on the decline. The informal sector expanded due to the effects of the pandemic. This sector is necessary for the survival of households. But, many of these micro businesses have no safety net. They cannot withstand further economic losses.
Strengths of the Market in Eswatini
What makes the market of Eswatini strong? Above all, it’s the country’s natural resources. These resources include sugar, food products, wood pulp, and wildlife and provide a solid basis for its lucrative trade and exports to South Africa.
Subsistence farming is a massive aspect of Eswatini’s economy, and over 70 percent of the country’s population rely on it. In recent times The Swaziland Agricultural Project has moved to improve food security because wants to transform agriculture into a more robust sector.
Reasons to grow your business in Eswatini (Swaziland)
There are a few reasons to grow your business in Eswatini and quality infrastructure and peace and safety are two of them. Quality infrastructure includes electricity, roads, water, and telecommunications and is an essential aspect of a strong market. It indicates the potential future development of the country.
The country’s safe and peaceful environment is a much-desired ingredient, therefore, it makes for a strong market. Investors can feel confident in their prospects.
About Market Research in Eswatini
The initial thought of growing your business in Eswatini seems daunting, so given the current trends, future growth and development may seem limited. That’s why we’re here: to put your mind at ease. Our method is sure with the use of Focus Groups in the different African markets. At SIS, we can present you with the bare facts and figures of the economy because research is our main game.