Article re-cap
- The City of Cape Town has approved an R868 million budget for the Economic Growth Directorate for the 2026/27 financial year.
- Tourism contributes approximately R24.5 billion to the Cape Town economy and supports nearly 106,000 jobs.
- Industry partnerships in sectors such as technology and manufacturing helped facilitate more than R15 billion in investment into Cape Town last year.
- Cape Town currently welcomes around 230 international flights every week to support connectivity and trade.
The City of Cape Town has approved an R868 million budget for the Economic Growth Directorate for the 2026/27 financial year to support business investment and job creation.
The approved budget will fund programmes, initiatives, and partnerships designed to drive investment and support businesses within the city. According to James Vos, Mayoral Committee Member for Economic Growth, the role of the directorate is to create conditions that allow companies to invest, expand, and employ more people.
Tourism currently contributes approximately R24.5 billion to the Cape Town economy and supports nearly 106,000 jobs. This sector includes roles for hotel staff, chefs, tour guides, shuttle drivers, and guesthouse owners, according to the report.
The city is working to expand international connectivity, with Cape Town currently welcoming around 230 international flights every week. Improving these routes is intended to bring more visitors, help exporters reach new markets, and attract investors.
Industry partnerships helped facilitate more than R15 billion in investment into Cape Town last year. These partnerships involve sectors such as technology, manufacturing, clothing and textiles, marine manufacturing, green energy, and business process outsourcing, which created 11,496 new jobs last year.
The city previously launched the This is Cape Town campaign across 55 cities and six continents to position the city in international markets. A new Tourism Framework is also planned to attract more visitors and encourage longer stays to create opportunities for local businesses and entrepreneurs.
This follows earlier local coverage of Mayor defends revised R87 billion Cape Town budget.
Frequently asked questions
How much has the City of Cape Town allocated to economic growth in 2026/27?
The City of Cape Town has approved an R868 million budget for the Economic Growth Directorate for the 2026/27 financial year to support business investment and job creation.
What is the tourism sector's current contribution to Cape Town's economy?
Tourism contributes approximately R24.5 billion to the Cape Town economy and supports nearly 106,000 jobs across hotel staff, chefs, tour guides, shuttle drivers, and guesthouse owners.
How many international flights does Cape Town currently receive weekly?
Cape Town welcomes around 230 international flights every week. The city is working to expand these routes to bring more visitors, help exporters reach new markets, and attract investors.
What investment and job creation resulted from industry partnerships last year?
Industry partnerships facilitated more than R15 billion in investment into Cape Town last year across technology, manufacturing, clothing and textiles, marine manufacturing, green energy, and business process outsourcing, creating 11,496 new jobs.
Source: investcapetown.com
