An evaluation of the impact of the Durban International Convention Centre on the economy.
Loading...
Date
2018
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
Business tourism is key to encouraging, cultivating and constructing enabling
environments for job creation and skills development ecosystem. The Durban
International Convention Centre (Durban ICC) was built as a stimulus in August
1997 to enhance these key enablers. The aim of this study revolved around two
research objectives: first to compile from annual reports the data on the economic
effect of the Durban ICC from 2006/7 to 2016/17, and second, to analyse the
economic impact of the Durban ICC on the national and local economy over the 11-
year period. A comprehensive literature review was conducted using various
sources. The study provided a context for the Durban ICC within the business
tourism landscape as well as insight into stakeholders involved and economic
assessment methods used for economic assessment evaluations. From the
literature review, approaches and indicators were identified to measure economic
performance. The financial data compiled from the annual reports used the
quantitative techniques and economic indicators like contribution to South Africa's
GDP, KwaZulu-Natal's GGP, indirect household income, net foreign exchange
earnings, tax revenue generated, total delegate and visitor days and jobs created
(direct and indirect). The data was analysed using descriptive statistics and trend
analysis to ascertain the impact on the economy and potential opportunities
emerging. The results from this review indicate that whilst the Durban ICC has
made a significant impact on the economy of KwaZulu-Natal (KZN) and South
Africa, there is further opportunity for robust strategic planning and stakeholder
collaboration to leverage opportunity. The existing instability, insecurity, intricacy
and uncertainty of the international MICE environment requires that the Durban ICC
concentrate on innovation with an entrepreneurial approach to acquiring different
techniques with varying mind-sets in place regarding prices, behaviours and
skillsets to enterprise outcomes, aggressive benefit and long-standing
sustainability. Improvement stratagems should be co-created with the public and
private sectors to realise maintainable all-encompassing economic advancement
and growth for South Africans. These must be devised on grounded multi-sectoral
facilitating strategies drawing on evidence-based strategies from prosperous
nations to directly affect the business tourism ecosystem and benefit local
communities, societies and economies.
Description
Masters Degree. University of KwaZulu-Natal, Durban.