Durban's International Convention Centre makes R43m profit

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Durban - The multi-award winning Durban International Convention Centre made a R43-million profit in 2017 which was R10-million more than the previous year. It was the centre’s second best year after 2011, when its activities included hosting the massive COP 17 Climate Change Conference, which also featured countless side events. The venue-the first international convention centre in the country-which this August celebrates its 21st anniversary received a clean, unqualified audit for the fourth consecutive year, a media briefing heard today. The 2017 financial year was another impressive performance, generating R173-million, surpassing last year’s performance by R11-million, a 7% growth and a “remarkable performance” considering that the local economy was currently in recession, the chief executive Lindiwe Rakharebe pointed out. The venue had hosted 547 events, a 38% increase on 2016. And this had translated to a massive contribution being made to the local economy, including R1-billion to indirect household income and 878 916 additional hotel room nights being generated.

Mayor Zandile Gumede said that the “wonderful work” being done by the ICC was testimony to its sustainability. It had contributed more than R4.9-billion to the country’s Gross Domestic Product (an increase of 14%) with the bulk of that directly benefitting the region by adding more than R4.8bn to the provincial GDP.

In the past 11 years (since such records were kept), the ICC had contributed almost R34-bn to the country’s GDP.

And almost 11 000 jobs were created and sustained by the centre’s activities last year. That was 93 000 jobs over 10 years, the annual financial report revealed.

Heads of State, royalty, international music artists, business leaders and sporting bodies were among the high-profile dignitaries who had graced the Durban ICC stage down the years, the mayor recalled.

It had been a catalyst for most projects in the city and she was looking forward to the ICC making history in the next 20 years and beyond, she said.

The proud chief executive presented the mayor with the award which the ICC had scooped last year for being Africa’s leading meetings and conference centre. It had won the award 16 times in 17 years.

It was presented by the World Travel Awards-the “Oscars” of the hospitality industry-which the ICC is hosting later this year.

Daily News



