|Key Macro-economic Indicator||2017||Cumulative Total
(2007 – 2017)
|Contribution to South Africa’s GDP||R4,9 billion||R34, 4 billion|
|Contribution to KwaZulu-Natal’s GGP||R4,8 billion||R32,6 billion|
|Foreign Exchange Earnings||R739 million||R5,7 billion|
|Tax Revenue Generated||R278 million||R2,7 billion|
|Total Delegate and Visitor Days||1 353 410 days||15 million days|
|Jobs Created (Direct and Indirect)||11024||93122|
DURBAN - In the past financial year, the Durban International Conference Centre has employed more than 11000 directly and indirectly.
The conference centre which is also known as the Inkosi Albert Luthuli International Convention Centre produced revenues of R173 million during the fiscal. This revenue was R11 million more than the revenue for the previous year.
According to the Scott Langley, the Marketing, Sales and Events Director for the centre the increased can revenue can be attributed to the big events that they hosted this past year.
Langley said "We were very grateful for the loyal support of our clients this past year. We also had the privilege of hosting some major international events including the 21st International AIDS Conference and the World Economic Forum on Africa.".
He added that there has been a 38% year-on-year growth in the number of events hosted by the Durban ICC for the year.
In independent Economic Impact Study has been authorised each year since 2007 to measure the impact that the Durban ICC has had on both the local and national economies.
This past year, Grant Thornton South Africa conducted the study and the cumulative impact was determined that the Durban ICC contributed R4,8 billion to the KwaZulu-Natal economy.
The 2017 Economic Impact Report has revealed that during the past fiscal year, R4,9 billion was contributed to the South African GDP as a result of Durban ICC activities. In the past 11 years, the ICC has contributed more than R34 billion to the national economy.
Durban ICC CEO Lindiwe Rakharebe said, "Just as we have led the way in growing the meetings, conventions and exhibitions sector in South Africa, we look forward to making history in the next 20 years and beyond."
Rakharebe also thanked all the stakeholders that have been a part of the positive growth trajectory.
- BUSINESS REPORT ONLINE