Nearly R4bn economic boost from events in 2023
4 January 2023
From hosting Africa’s first Netball World Cup, ICC Women's T20 World Cup, the first Formula E race in Sub-Saharan Africa, Loeries Creative Week, the return of Tweede Nuwe Jaar Minstrel Street Parade and many more, 2023 has been a prolific year for events in Cape Town.
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.
Research studies on three key events hosted in the city during this period revealed a substantial R2 billion economic impact. This is a holistic impact on the economy which includes direct and indirect economic impact, and destination marketing among others.
A further R1,9 billion 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 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,’ said the City’s Mayoral Committee Member for Safety and Security Alderman JP Smith.
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.
Cape Town has an exciting 2024 lined up 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 do battle with the All Backs at DHL Stadium in September 2024.
Issued by City of Cape Town, 4 January 2024
