2023 was a big year for South Africa, with a massive economic boost thanks to the myriad events hosted by Cape Town!
Cape Town, South Africa (07 January 2024)—2023 was a massive year in events, firsts, and history-making experiences facilitated largely by the City of Cape Town. And, all the Cups, races, parades and performances have paid off ten-fold with the exciting news that they have resulted in a near R4 billion boost for the country’s economy.
According to the City of Cape Town:
“Research studies on three key events hosted in the city during this period revealed a substantial R2 billion economic impact…a further R1.9 billion in economic activity was generated by just 10 of the events hosted in the calendar year. This is the actual direct spend by event attendees, participants and event organisers in Cape Town.”
To put this into perspective, over a million attendees and participants helped make this boost possible for the City’s top 40 events last year.
Not only was this a historic boost achieved in a single year, it also outdid any of the years preceding the pandemic and created thousands upon thousands of jobs—an incredibly positive outlook for the future.
“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,” Mayco Member for Safety and Security, Alderman JP Smith shared.
Looking forward to 2024, the City has the Cape Town Carnival, Africa Travel Week, Comic Con Cape Town and the Springboks versus the All Blacks all on the cards later this year, among others!