The future looks bright for SA’s MICE industry
Projeni Pather, Founder and Managing Director of Exposure Marketing
The National Budget last week showed some encouraging signs to turn the economy around, including incentives to stimulate short-term investment. This contributes to a fruitful outlook for the Meetings, Incentives, Conferences and Exhibitions (MICE) industry, as various provisions align with boosting tourism and events in South Africa.
Among these is the incentive for businesses to reduce their taxable income by investing in renewables. Placing no limit on the size of projects that qualify can only help to encourage investment sooner than later, with the 125% tax rebate valid for two years. I believe this boost will carry through to event organisers and …
Improving infrastructure was high on the Budget agenda, where transport and logistics received an estimated R351.1 billion commitment to SANRAL to boost SA’s road infrastructure network. Additional plans projected to cost R132.5 billion over the next three years will improve water and sanitation services. These are excellent steps towards making our country more resilient and capable of managing an influx of business and leisure tourists balanced with a growing population.
Food is a major component of any event, so it was great to see the refund on the Road Accident Fund levy for diesel being extended to help manufacturers of food stuffs, compensating for the cost of generators and the impact of the electricity crises on food prices[i].
South African Airways being given R1 billion towards its business rescue process, in the hopes of a private sale could be the start of a new journey for the airline, which will attract tourism to South Africa. The country offers so much potential, particularly for hosting events