The New Age

20 November 2012 - The New Age

The Durban ICC has turned 15, been voted Africa’s leading meeting and conference centre by the World Travel Awards for the 11th time in 12 years and has shown excellent financial and performance in 2012.
The Durban International Convention Centre has achieved record results for the 2012 financial year.

Announcing the results at a function celebrating the 15th anniversary of the Durban ICC on Friday evening, Durban ICC CEO Julie-May Ellingson praised all stakeholders for the excellent results achieved in 2012.

“The Durban ICC achieved three significant milestones during 2012,” Ellingson said.

“In addition to achieving our 15 year milestone, the centre has been voted Africa’s Leading Meetings and Conference Centre by the World Travel Awards for the eleventh time in twelve years.

“The third thing has been the excellent financial and performance indicators for 2012.”

Over the past 15 years the Durban ICC has cemented its position as a catalyst for economic growth for Durban and KwaZulu-Natal and has contributed significantly to the sustainability and growth in key economic sectors, including the hotel, restaurant, transport, retail and logistics sectors.

During the 2012 financial year, the Durban ICC achieved the following record results:

•Contribution to gross domestic product was R3.11bn, up from R2.7bn in 2011.

•Contribution to gross geographic product of KwaZulu-Natal was R2.98bn, up from R454m in 2011.

•Profit before tax was R69m, up from R3.4m in 2011.

•Revenue generated was a record R237m, up from R129m in 2011.

•Foreign exchange earnings generated was R948m, up from R476m in 2011.

•Tax revenue generated was R277m, up from R246m in 2011.

•New jobs created (direct and indirect) was 9327, up from 7838 in 2011.

•74% of all ICC expenditure was with BEE companies.

•The Durban ICC improved its BEE rating to Level 3, up from Level 7 in 2011.

•Training days doubled in 2012 to 365.5 days.

“In terms of these results the Durban ICC is the best performing convention centre in the country.

“The Durban ICC has made a cumulative contribution to GDP of R14.5bn over the last six financial years alone and has put Durban firmly on the global conferencing map.

“These results demonstrate the contribution that the Durban ICC has made to the economic prosperity of Durban and KwaZulu-Natal and reflects the success of the Durban ICC as a municipal entity which is run as a commercial enterprise while significantly contributing to the city’s developmental goals,” Ellingson said.

Source: The New Age

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