Johannesburg: Early estimates indicate that the Gauteng province gained more than R1 billion in revenue as a result of hosting the G20 Leaders' Summit. Thousands of delegates and guests, including heads of state and government, arrived in the province for the summit held over the weekend.
According to South African Government News Agency, Gauteng Premier Panyaza Lesufi briefed the media on Tuesday, revealing that the province scored an investment amount between R1 billion and R3 billion. These figures are being consolidated from hotels, travel agencies, and related institutions. Lesufi highlighted that almost all hotels were fully booked, airlines to the province reached capacity, and local malls and tourist destinations, particularly in Soweto, Magalies, and Sandton, were bustling with visitors.
The Premier emphasized the invaluable exposure Gauteng received from the summit, which is expected to attract future investments. He noted that the event sparked significant discussions between local businesses and potential investors, identifying Gauteng as a preferred investment destination. Lesufi pointed out that G20 countries represent a substantial portion of the global economy and tourism, which underscores the importance of the exposure gained.
Lesufi assured that no additional funds from the provincial government's budget were used to host the summit. He clarified that the summit's planning leveraged existing resources, as no extra money was allocated for tasks such as fixing potholes, which are part of the province's regular duties.
The summit's successful execution is viewed as a stepping stone for future initiatives. Lesufi expressed commitment to maintaining the momentum gained and using the experience of coordinating large-scale events to address ongoing challenges in Gauteng.