Cape Town reports nearly R4bn boost from 2023 events
The City of Cape Town has reported an almost R4-billion boost from the raft of events hosted in the Western Cape capital last year.
This includes 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 and the return of Tweede Nuwe Jaar Minstrel Street Parade.
The City of Cape Town’s Events Permit Office says it issued permits for more than 1 200 events in 2023.
Research studies on three key events hosted in the city during this period revealed a R2-billion economic impact.
“This is a holistic impact on the economy, which includes direct and indirect economic impact, and destination marketing, among others,” explains the city.
A further R1.9-billion in economic activity was generated by 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.”
The top 20 events also created more than 26 000 job opportunities for people in the greater events ecosystem, including security, catering, logistics, production and transportation, among others.
“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,” says City of Cape Town Safety and Security MMC JP Smith.
“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.”
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