CTICC expansion raises the stakes for meetings and events industry in Cape Town
Press Release from the Cape Town International Convention Centre (CTICC)
March 30, 2011: The proposed expansion of the Cape Town International Convention (CTICC) is set to further entrench Cape Town’s reputation as one of the world’s leading meetings and events destination in the global arena.
Speaking today at the joint press conference, which was hosted by the CTICC, the City of Cape Town and the Provincial Government of the Western Cape, CTICC Chief Executive Officer Rashid Toefy says that the expansion will help the centre to achieve its vision of being the best long haul convention centre by 2020, as the centre will be able to attract more international meetings and exhibitions to Cape Town.
In spite of severe competition, the CTICC, and Cape Town, has achieved and maintained an impressive 35th position on the International Convention Centre Association (ICCA) 2009 ranking list of international destinations. “Despite the fact that only 3.8% of international association meetings come to Africa, Cape Town has the lion’s share of this market,” says Toefy. Johannesburg and Durban are ranked at 128 and 231 respectively. It is envisioned that the expansion will allow CTICC to double the number of international meetings that it currently hosts, allowing it to compete with destinations like Singapore and Beijing, who are ranked 5th and 10th respectively.
“At present, the centre boasts high venue-occupancy levels, with occupancy averaging close to 60%. During high demand conference months, such as September, October and November, the centre operates at almost a 100% capacity. Internationally these occupancies are regarded as very high and the current occupancy level, especially the exhibition halls, has become a threat to the development of potential new business,” says Toefy.
While the centre has been successful in accommodating repeat exhibition and trade fairs, there is an increasing trend to add an exhibition component to annual meetings and conferences. At present the lack of free available exhibition space is preventing CTICC from tapping into this lucrative market.
“It is expected that after five years the expansion will generate over R80-million additional revenue from venue rentals, R45-million from food and beverage services and another R16-million from other activities, significantly raising the economic spin off of the CTICC,” concluded Toefy.
Issued by the Cape Town International Convention Centre
For more information contact Zeenat Parker on +27 (0) 21 410 5000 or +27 (0)71 888 2623