Durban is rubbing its hands in glee at the prospect of raking in millions when the World Economic Forum Africa rolls into town in May. Sihle Zikalala, MEC for economic development, tourism, and environmental affairs, announced yesterday that the city would be hosting the money-spinning event from 3 to 5 May.
He predicted that direct revenue from hosting the event would be at least R63-million, with a total revenue of R155-million and the creation of more than 500 jobs.
Zikalala accompanied the South African delegation led by Deputy President Cyril Ramaphosa to the World Economic Forum in Davos in Switzerland last week.
The Africa forum will see regional and global leaders from business, government, and civil society discuss the creation of economic opportunities for the continent. "The reason we have lobbied for WEF Africa to come to Durban is precisely because of its immense potential to enhance the brand equity of both the city and province," Zikalala said.
He is hopeful that the WEF Africa will become a "permanent feature" in Durban.
"The fact that it's WEF Africa does not only mean that people from Africa will be attending. We will be expecting delegates from other major countries and so we need to promote the city and South Africa."
Zikalala said the forum would give the province a chance to "showcase" itself to investors, particularly in the manufacturing sector.
James Seymour, head of the Durban KwaZulu-Natal Convention Bureau, a special division of Tourism KwaZulu-Natal, said they would be exposing the province's tourism potential to the international business sector. "With regard to WEF Africa, it may be the only chance for international delegates from long-haul destinations to see Africa. They want to visit our game reserves and experience our culture."
Source: The Times
