Durban - The eThekwini Municipality said the coronation ceremony held at Moses Mabhida Stadium on Saturday where Zulu King MisuZulu kaZwelithini received his certificate of appointment boosted the city’s economy.
A statement issued by the city on Wednesday said the stadium was a hive of economic activity on October 29 with arts and crafts on display as well as a fashion and food pop-up marketplace.
The city said these activities boosted local businesses in the informal economy as well as the hospitality and tourism industry.
Over 150 informal traders were issued with special event trading permits to sell their products at demarcated trading areas, said the statement.
“They benefited from the thousands of visitors and well-wishers who converged at the Moses Mabhida Stadium for the significant ceremony.”
The demarcated areas were located around the stadium in Isaiah Ntshangase Road, the Durban Old Drive-In Site, and the Kings Park Swimming Pool.
“All exhibitors expressed their gratitude for the opportunity and said it was a good boost for their business, especially the food vendors who sold out before the day was over. The event also impacted the tourism and hospitality industry with a projected 82 000 people flocking to eThekwini over the weekend coming from across the country and the world. The direct spend is estimated to be R65 million with a R130 million contribution to the Gross Domestic Product (GDP).”
According to the municipality, around 207 temporary jobs were created as a result of the event and accommodation establishments reported above 80% occupancy rates across the municipal area.
Mayor Mxolisi Kaunda said hosting such a big event was a welcome relief for the hospitality and tourism sector which is still recovering from several setbacks.
“The R65 million direct spend was shared by many local businesses as the projected 82 000 visitors who were in Durban this weekend booked into various accommodation establishments. They also spent at eateries, enjoyed tourism experiences, visited shopping malls and many other businesses which is a boost to the city’s economy,” he said.
The mayor said the economic benefit of the event was extended to the city’s informal economy as special licence traders were able to sell their products and boost their incomes.
“The informal sector is critical to local economic growth as it creates employment.”