Wed 19 Dec 2018 | 01:33

Sevens set to bring in billions for CT

Sevens set to bring in billions for CT
Wed 19 Dec 2018 | 01:33
Sevens set to bring in billions for CT
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IN THE SPOTLIGHT: With Cape Town Sevens’ huge success over the last four years, the City of Cape Town Council is keen to keep the tournament in the Mother City for another three years.

Cape Town Stadium hosted the South African leg of the World Rugby Sevens Series on December 8 and 9.

The Sevens Tournament’s huge success in the last four years has urged City of Cape Town Council to keep the Sevens in the city for another three years.

If the Cape Town managed to secure the three-year extension the projected earnings from hosting the tournament up to 2022 hover around the R3 billion mark.

According to the statement on the City of Cape Town’s official website,  the Council and SA Rugby are currently negotiating a deal.

“SA Rugby approached the City of Cape Town to put in a bid to host the World Rugby Sevens Series during the 2019-2022 financial years. This highly popular international event’s contribution to the City’s gross domestic product increased from R539-million in 2015 to R765-million in 2017,” read the statement.

“Council’s approval grants the City authority to submit a bid for the tournament for the next three financial years, 2019-2022. Should we be successful, the City of Cape Town, the Cape Town Stadium RF (SOC Limited) and SA Rugby will negotiate and formalise a memorandum of agreement that will stipulate the rights and responsibilities of each party.

“Given the resounding success of the 2018 event, the City has confirmed it will provide support in the amount of R2.5-million per financial year for event-related services should we win the hosting rights.

“Given that most of the spectators were from outside of Cape Town, this influx of visitors translated into a significant economic boost for the local economy. Most of the international visitors extend their stay beyond the tournament dates which further boosts the local tourism economy. This, in turn, holds immense benefits for the City’s residents by way of job creation, support for local businesses and entrepreneurs,”

Source: capetown.gov.za

 

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Sevens Set To Bring In Billions For Ct | Rugby365