As South Africa’s economic powerhouse, Gauteng is on a mission to further solidify its status as a prime destination for investment and tourism.
This commitment was affirmed by Gauteng’s MEC for Finance and Economic Development, Lebogang Maile, at the recent Meetings Africa event hosted at the Sandton Convention Centre in Johannesburg.
The MEC revealed an ambitious strategy designed to not only attract business events but also uplift other provinces in the process.
"In the context of the business events industry, the initiatives that we have include offerings by the Gauteng Tourism Authority, an entity of the Gauteng Department of Economic Development," Maile stated.
At the heart of this strategy is the Gauteng Convention and Events Bureau, which collaborates with key industry stakeholders to ensure the growth of the business events sector.
The Bureau aims to connect both businesses and governments with world-class venues suitable for a wide array of events, from international convention centres to hotels and expo venues.
Importantly, these venues are equipped with state-of-the-art facilities for hybrid meetings, facilitating a seamless blend of physical and digital attendance.
Maile underlined the vital importance of having world-class infrastructure to sustain the momentum of the business events sector.
"Gauteng is not just the industrial hub of South Africa; it is a vibrant region with three metropolitan municipalities that are vital to our economy," he explained. The MEC indicated that substantial provincial resources have been allocated towards infrastructure development, which not only supports the business events industry but also a multitude of other sectors.
Among the key infrastructure projects unveiled is the recently launched OR Tambo International Airport Precinct 2.
This initiative is a significant milestone in Gauteng's industrial expansion and highlights the province's commitment to fostering robust economic growth.
Maile pointed out that the OR Tambo Special Economic Zone (SEZ) is poised to unlock a myriad of new opportunities for investors and businesses, positioning Gauteng as a competitive player on the global stage.
Remarkably, Gauteng contributes a staggering 33 percent to South Africa's national gross domestic product (GDP). Despite being the smallest province by land mass, it is home to over 15.4 million residents, a substantial portion of whom are youth.
Maile accentuated the pivotal role of this demographic as both consumers and a skilled workforce that drives demand for goods and services, essential for nurturing economic growth and attracting foreign investment.
"The relationship between the youth and the economy is significant," Maile stated. "Young people are a large consumer base that drives demand for goods and services, thereby stimulating economic growth. They provide a potential market for both local and international businesses seeking to make investments in the region."
He further elaborated that the youth not only represent a key consumer base but also supply the necessary labour and skills required in the people-centric business events industry.
With a clear focus on strategic initiatives and a steadfast commitment to infrastructure development, Gauteng is not just setting out to attract investment and business events - it is aspiring to reshape the future of the region into a dynamic global player, all while honouring its historical significance and harnessing the immense potential of its youthful population.