Gauteng Finance MEC, Lebogang Maile, has confirmed that the hosting of the recent G20 Summit in the province has generated more than R1 billion for the provincial coffers.
Maile, who delivered the province’s Medium Term Budget Policy Statement and Adjustment Budget to the Gauteng Legislature on Tuesday, said this revenue boost highlights the economic impact of international events on the province, with benefits spanning tourism, hospitality, and local businesses.
With the province set to host other big events in the coming months, Maile emphasised that such initiatives contribute significantly to Gauteng’s growth and investment potential.
“By welcoming the G20 visitors into the province and successfully hosting them, Gauteng has once again demonstrated its capacity and strength for facilitating high-quality events. According to the National Department of Tourism, early data indicate that the province generated more than R1 billion from hosting the G20 Summit. This is a significant injection into the fiscus, coming at a time when resource constraints continue to pose a significant challenge to public services for our country’s increasing population,” he stated.
Gauteng is set to utilise major events, such as the recently secured global golfing tournament, LIV Golf, to boost provincial revenue, as stated by Maile.
The decision to host the LIV Golf event was highlighted by Gauteng Premier Panyaza Lesufi last week. He indicated that the tournament would benefit Diepsloot and other townships facing service delivery issues.
This is part of ongoing efforts to beautify townships and the inner city, a drive that will continue long after the G20 Summit has ended.