Convention centres are, in economic terms, catalysts. Quantifying that full impact requires specialist analytical tools.
A successful convention or exhibition generates economic benefits that extend far beyond the venue itself.
Direct spending by organisers, exhibitors and delegates is only the most visible layer. Beyond that sit accommodation, travel, meals and retail spending; induced tourism as international visitors return later (often with their families); and the business-to-business value of agreements, orders and investment commitments made at the event.
Convention centres are, in economic terms, catalysts. Quantifying that full impact requires specialist analytical tools.
StratEcon quantifies the full economic footprint of conventions, exhibitions and events from direct delegate expenditure through to indirect and induced effects on GDP, employment, household income and tax revenues. Our analyses are structured to meet the needs of venue operators, city authorities and event owners who need credible, independently produced evidence of value.
Decisions about building, expanding or repositioning a convention centre require a thorough economic and financial appraisal. StratEcon assesses the economic viability and macroeconomic contribution of proposed facilities, providing project sponsors, government departments and financiers with the analytical foundation for major infrastructure commitments.
StratEcon has been the primary economic analyst for the Cape Town International Convention Centre (CTICC) since its inception, producing the initial feasibility study and updating the macroeconomic contribution assessment annually from 2004 to 2017.
We also conducted the economic cost-benefit analysis of the CTICC’s expansion. Our work for the Durban International Convention Centre spanned six years of annual contribution assessments, and we have assessed the economic contribution of the Sandton Convention Centre and the Design Indaba.
Internationally, we assessed the economic viability of proposed convention centres in both Windhoek and Swakopmund, Namibia. For Hyve Group PLC in London, we produced the economic contribution analysis of the Africa Mining Indaba across multiple years.
Few firms in South Africa have been as consistently involved in convention centre economics as StratEcon. Our work spans pre-development feasibility, ongoing contribution tracking and expansion appraisal across South Africa’s major venues. That continuity of engagement gives us a depth of understanding of how these facilities perform economically that is difficult to replicate from first principles.
StratEcon works with convention centre operators, event owners, city authorities and project sponsors on event economics across South Africa and Africa. Contact us to arrange a no-obligation introductory discussion.