An evaluation of the impact of the Durban International Convention Centre on the economy.
MetadataShow full item record
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.