The Cape Town International Convention Centre (CTICC) hit a record high in its tenth year of operations and added R 2.99 billion to the national economy and more than R 1 billion to the Western Cape’s coffers.
Speaking at the centre’s Annual General Meeting Results Press conference, which took place on Tuesday, November 26, CTICC Chief Executive Officer, Rashid Toefy said that for the 2012/2013 fiscal year, the centre achieved a net profit before tax of R 27 million, the highest in the centre’s ten year history. In addition the centre generated revenue and other income in excess of R 158 million, an R 18 million increase from the R 140 million of last year.
“More importantly, the centre continued to make a valuable contribution to driving job creation and skills development in South Africa”, he said. Through the centre’s activities more than 7500 direct and indirect jobs were created nationally during the period under review.
The centre capped the year at 537 events, compared to the 514 in the 2011/2012 financial year and reached another significant milestone, when it generated over 1.3 million delegate and visitor days. This is a 15 % increase from 2012 and is the highest figure recorded over the past ten years. Visitor numbers are expected to increase to over 1.7 million over the next 5 years”, said Toefy.
The centre has a sustainable forward book and several large scale international conferences have been secured until 2020. These includes the 35th International Geological Congress in 2016, the World Congress of Internal Medicine in 2018.
Over the past decade the CTICC has contributed over R 22 billion to the country’s Gross Domestic Product and over R 7 billion to the Western Cape Gross Geographical Product. “It is our goal to add a further R 22 billion to the country’s coffers over the next five years and in doing so realise our vision of becoming the best long-haul international convention centre by 2020,” explained Toefy.