Team Cape Town impresses UK investors with its trade mission

The aim is to encourage international investment in Cape Town, which is ripe with economic opportunities.The meeting was the first leg of the Cape Town delegation’s trade mission to London, which will also meet with the Greater London Authority and the local government team responsible for their economic regeneration strategies.

To give UK guests a taste of Cape Town and South Africa, they were served items such as boerewors, samoosas, chakalaka on vetkoek, and South African-made wine. This was topped with a presentation on Cape Town’s tourism value proposition and the economic opportunities that await them. The UK is one of Cape Town’s biggest travel and trade source markets and is currently the Mother City’s single biggest international air travel market, making up over 20% of passengers. This season, Cape Town will welcome 24 flights per week from London’s Gatwick and Heathrow airports.

It is also the third-largest export market for the Cape and one of the top sources of foreign direct investment in South Africa. Between 2010 and 2021, more than 200 UK companies invested in 274 foreign direct investment projects in our country, spending a total of R164,6 billion and creating 22 500 jobs.

This is, however, only a fraction of the potential economic opportunities to be realised for Cape Town. The City’s goal over the next few days is to secure more investments, travel, and trade from the UK market, thus driving more revenue into our local economy and creating more jobs for Capetonians.

Source: News Formal (newsformal.com)

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