SAACI NEWS

The delegate economy

The business events and exhibition industry has a substantial role to play in delivering and driving the economy of our country. This in itself is an industry imperative; and, as we are part of the global eventing world, the competition for consumers, talent, business and investment makes it challenging at times.

By Glenton De Kock, chief executive officer of SAACI.

However, we must never lose sight that beyond the high yield of delegate spend, business events are recognised for:

• Attracting global talent and knowledge transfer.

• Stimulating trade, encouraging foreign investment, and catalysing industry growth.

• Nurturing research collaboration, fostering innovation, and boosting productivity.

• Promoting cultural exchange and diplomacy.

Added to this are sporting events that aid the profile of a destination as well as attracting new visitors to a destination.

At present, our country is experiencing a wonderful window of focus across the business events and exhibitions industry, matched by significant international sporting events that are taking place on our shores.

We are witnessing the SA20 Cricket T20 capturing the imagination and support of local audiences as well as many within India due to the connection of the teams participating. This sporting event will be followed by the ICC Women’s World Cup, as well as the FIH Indoor Hockey World Cup, with the muchanticipated Formula E grand prix.

Africa’s Mining Indaba and our own Meetings Africa anchors the first quarter of 2023 for business events which precedes WTM Africa and is ensued by the Netball World Cup, resulting in us having focus on the socioeconomic impact the aforementioned activities will have on our economy.

All of this work is completed years before, through the form of bids, presentations and discussions to secure these events for our destination. It clearly demonstrates how important business events, exhibitions and events are for our country.

A wonderful example is the sterling work done by the team in the Western Cape. The Cape Town and Western Cape Convention Bureau secured 27 bids in the past year for business events that will happen between 2022-2024, and beyond. The destination will welcome an estimated 20,000 delegates from the bids secured over the next few years, with an estimated R393.4 million to be injected into the local economy as a result of the secured business events.

We know that the positive knock-on effect within the supply chain for each of these events demonstrates the economic ripple that the delegate spend is far beyond the price of a conference registration fee, accommodation, or transport. Many delegates return, as tourists, to the host destination, with family and friends.

In the coming year, we should see a greater return in our various sectors. As an industry we will continue to grow and do our best in a more competitive environment.