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Events News South Africa

City of Cape Town events generate almost R4bn for economy

The year 2023 was a prolific year for the City of Cape Town as it hosted more than 1,200 events, which contributed nearly R4bn to the economy and created job opportunities for its citizens.
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Image by Ulrike Mai from Pixabay

From hosting Africa’s first Netball World Cup, the ICC Women's T20 World Cup, the first Formula E race in sub-Saharan Africa, the Loeries Creative Week, the return of Tweede Nuwe Jaar Minstrel Street Parade and many more - the year proved to be a success for the city’s sports, arts and culture sectors.

“Research studies on three key events hosted in the city during this period revealed a substantial R2bn economic impact. This is a holistic impact on the economy, which includes direct and indirect economic impact, and destination marketing, among others.

“A further R1.9bn in economic activity was generated by just 20 of the events hosted in the calendar year. This is the actual direct spend by event attendees, participants and event organisers in Cape Town. In addition, over 1.3 million people attended or participated in the top 40 events in 2023,” the city said on Thursday, 4 January 2024.

The City of Cape Town’s Events Permit Office permitted over 1,200 events in the calendar year.

From major international sporting events, top tier music concerts, cultural masterpieces and an abundance of lifestyle events, Cape Town had it all in 2023. Through its Events Support Process, the city supported more than 170 events during the period.

“The importance of these economic spin-offs from events cannot be overstated. We have seen over the last couple of years how events can become catalysts for growth for other sectors in the value chain, including accommodation and food, travel, local retail and tourism attractions here in Cape Town.

“We have also seen that an overwhelming majority of event organisers use local suppliers for logistics, equipment rental, security, production, staffing and hospitality. Additionally, hosting a number of local and international events has helped tremendously in promoting Cape Town as a premier tourism destination to a global audience.

“Event organisers have worked hard over the last 15 months with support from the City’s Events Department to get the events back in the direction we were headed before the pandemic. We would like to salute all involved for their hard work,’” the City’s Mayoral Committee Member for Safety and Security, JP Smith, said.

The top 20 events hosted in Cape Town in 2023 created over 26,000 job opportunities for people in the greater events ecosystem, including security, catering, logistics, production and transportation, among others.

The city is planning to keep the momentum for events going this year as well.

It has an exciting lineup in the events space with the Tweede Nuwe Jaar Minstrel Street Parade, kicking off a year that will also feature the SA20 Final at Newlands, the Cape Town Carnival, Africa Travel Week, Comic Con Cape Town and the world champion Springboks will battle with the All Backs at DHL Stadium in September 2024.

Source: SAnews.gov.za

SAnews.gov.za is a South African government news service, published by the Government Communication and Information System (GCIS). SAnews.gov.za (formerly BuaNews) was established to provide quick and easy access to articles and feature stories aimed at keeping the public informed about the implementation of government mandates.

Go to: http://www.sanews.gov.za
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