Cycle Tour fuels R500m growth

THE ICONIC Cape Town Cycle

- TRACY-LYNN RUITERS

Tour has proven to be a major economic catalyst for the Western Cape, injecting more than R500 million into the local economy.The world's largest individually timed race, which draws cyclists from across the globe, attracted an estimated 15 000 visitors last year. Small to medium-sized enterprises (SMEs) experienced a notable boost in sales, the tourism and hospitality industries also saw particular gains, with hotels, restaurants, and transport operators all benefiting from the influx of participants and spectators.

As more than 30 000 cyclists line up on Sunday, event organisers and partners have highlighted the race's importance not only for tourism but as a crucial contributor to job creation and economic growth for the province.

The event creates both temporary and permanent employment opportunities, with last year's edition producing 3 280 jobs across hospitality, tourism, and event management.

Cliff Mayinga, Provincial head for Coverage Business Banking at Standard Bank, said the Cycle Tour is a key opportunity for businesses.

"The Cape Town Cycle Tour is a game-changer for local businesses. It brings an influx of customers in a short window, so being prepared, especially with efficient payments and customer engagement strategies, can make all the difference."

Wesgro CEO Wrenelle Stander said the Cycle Tour highlighted the powerful role that sport can play in driving tourism and economic activity.

"The Cycle Tour is one of the events that brings significant tourism value to the region each year, drawing thousands of riders and supporters who travel to the province and support hotels, restaurants and a wide range of local businesses.