Cape Town E-Prix is expected to bring in as much as R2 billion for the local economy
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Cape Town E-Prix is expected to bring in as much as R2 billion for the local economy

The upcoming Cape Town E-Prix is expected to bring in as much as R2 billion for the local economy, according to reports. Mireille Wenger, the Western Cape Finance and Economic Opportunities MEC, has welcomed the injection of direct and indirect investment, saying that the event provides a platform to boost sport tourism to the province.

The event is set to have a direct and indirect economic impact of R2.13 billion, including R481 million in global destination exposure. The Formula E will be hosted in Cape Town for the next 10 years, and the benefits of the event go beyond a one-off economic boost.

Race promoter Iain Banner praised the Western Cape government for paving the way for Cape Town to become South Africa’s green capital.

The city is “becoming friendly to people going off the grid, has loads of green initiatives, and has loads of e-mobility plans and targets,” he said. Banner lauded the city’s enabling legislation for green initiatives and said that these types of plans and targets were necessary across the country.

The Cape Town E-Prix is expected to be the event with the biggest economic impact since the 2010 FIFA World Cup.


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