MARKET NEWS

Building hope and confidence: Cape Town’s post-pandemic renaissance

The global tourism industry is finally emerging from the rubble of the Covid-19 pandemic. According to UN Tourism, international tourism ended 2023 at 88 per cent of pre-pandemic levels.

That upward trend was echoed in South Africa where 3.5 million travellers were recorded at South African ports of entry/exit. As one of the country’s tourism hubs, the City of Cape Town has been at the forefront of tourism’s rejuvenation.

James Vos, City of Cape Town Mayoral Committee Member for Economic Growth, said: “Central to Cape Town’s recovery efforts is the recognition of the importance of supporting small businesses and empowering marginalised communities. By investing in local enterprises and providing opportunities for growth, the city aims to create a more inclusive and resilient economy.”

Building post-Covid confidence

The remarkable rebound of Cape Town’s tourism has been driven, in large part by, the city’s insistence on lionising entrepreneurship and innovation in revitalising struggling industries. Mr Vos remarked: “Cape Town is exploring multifaceted approaches to rebuild economies and restore confidence among businesses, investors, and consumers alike. This commitment to fostering entrepreneurship and innovation is key to building an economy of hope and confidence in a post-pandemic world.”

The revitalisation of struggling industries goes beyond mere economic recovery; it is about building a future that is sustainable and equitable for all. Through strategic partnerships and innovative initiatives, Cape Town is laying the groundwork for long-term prosperity and growth. Mr Vos underscores this point, saying, “By fostering entrepreneurship and supporting small businesses, we can create opportunities that uplift communities and drive economic transformation.”

This is why public, and private partnerships are so important.

Samantha Williams, commercial director of Profitroom, and Lee-Anne Singer at FEDHASA, concluded: “By working with government and our private partners, we have seen incredible growth in the industry and now the future looks bright, not just for the city but for South Africa as a whole.”