Cape Town - South Africa is facing uncertain times, including investor uncertainty, according to Patricia de Lille, executive mayor of Cape Town.
"As a city we are encountering the forces of urbanisation, unemployment challenges and service delivery needs, among other things," De Lille said.
"With few exceptions, resources are limited."
The current financial climate makes traditional sources of income like the tourism industry even more important, De Lille said at the AGM of Cape Town Tourism on Thursday.
"We have always placed great faith in our tourism market and the appeal that we have for both domestic and international visitors," she said.
The research shows that Cape Town's tourism industry generated R14.6bn in 2012, up from R12.4bn in 2009.
In 2010, the tourism industry’s contribution to the local economy peaked at R16bn, mainly due to the impact of the Soccer World Cup.
"Despite this success, in a changing marketplace, even seemingly reliable industries need to be re-assessed and re-evaluated," she said.
"You can only maintain market strength by constantly having a sense of renewal and staying ahead of the curve."
For many years Cape Town's tourism market only seemed to grow, but she warned that the certainties of the past cannot be relied upon.
"A range of factors, including new development patterns, new tourism markets and destinations and changing financial realities will shift this pattern in coming years if we become complacent," she said.
"These factors are a good thing. They have forced us to look at ourselves and our ways of attracting people to Cape Town. We need to attract new customers in new ways. In a competitive market place, we have to make Cape Town stand out."
- Fin24
"As a city we are encountering the forces of urbanisation, unemployment challenges and service delivery needs, among other things," De Lille said.
"With few exceptions, resources are limited."
The current financial climate makes traditional sources of income like the tourism industry even more important, De Lille said at the AGM of Cape Town Tourism on Thursday.
"We have always placed great faith in our tourism market and the appeal that we have for both domestic and international visitors," she said.
The research shows that Cape Town's tourism industry generated R14.6bn in 2012, up from R12.4bn in 2009.
In 2010, the tourism industry’s contribution to the local economy peaked at R16bn, mainly due to the impact of the Soccer World Cup.
"Despite this success, in a changing marketplace, even seemingly reliable industries need to be re-assessed and re-evaluated," she said.
"You can only maintain market strength by constantly having a sense of renewal and staying ahead of the curve."
For many years Cape Town's tourism market only seemed to grow, but she warned that the certainties of the past cannot be relied upon.
"A range of factors, including new development patterns, new tourism markets and destinations and changing financial realities will shift this pattern in coming years if we become complacent," she said.
"These factors are a good thing. They have forced us to look at ourselves and our ways of attracting people to Cape Town. We need to attract new customers in new ways. In a competitive market place, we have to make Cape Town stand out."
- Fin24