Durban – KwaZulu-Natal Premier has lauded the province for demonstrating the ability to host the world for the World Football Summit Africa which kicked off at the Inkosi Albert Luthuli International Convention Centre in Durban on Wednesday.
The two-day summit, which ends on Thursday, saw football industry professionals convene to discuss various ways in which the local football industry could be advanced in all sectors.
It came ahead of the kick-off of Fifa World Cup in Qatar this weekend.
Dube-Ncube revealed that R480 million would be injected into the economy of the province through hosting the World Football Summit, which is the biggest event in the football industry.
It is currently taking place on African soil for the first time.
Making her opening remarks, Dube-Ncube welcomed the various speakers and delegates to the start of the event.
“We look forward to interacting with the clubs, leagues, federations, but also the broadcasters, sponsors, technology companies and all the different companies from across different sectors that are involved in the football industry.
“At this World Football Summit, we can attest to the fact that football is not just a game, but what has become a mighty global network economy that commands the attention of major investors and is growing in leaps and bounds. In hosting the World Football Summit, as KwaZulu-Natal we again demonstrate our capacity to host Africa and the world in global events,” said Dube-Ncube.
Detailing the economic impact of the football industry, Dube-Ncube said football was a multi-billion industry that if exploited to the fullest, contributed immensely to gross domestic product of countries and the global economy.
She said that hosting the World Football Summit in the city was demonstrative of the province's capability to host Africa and the world in global events, and serve as a gateway to all nations.
"Observers believe that the sports industry is set for a major shake-up and will become the second fastest growing sector for brands, outpacing the GDP growth of most countries.“
She added that the key trends in the sports economy were fuelled by :
* The market for wearable technologies which is experiencing an astronomical increase in sales.
* Sports sponsorship revenue and increasing competition for premium contents.
* International sports betting is estimated to have a market capitalisation of $250 billion.
* Revenue for eSports has doubled.
The premier further said that the aim for the province was to make use of all the opportunities in the economic frontiers of sports and the digital economy, for the benefit of the youth.
"We are looking at new industries of the future in order to ensure that our citizens take advantage of the opportunities and they do not only become consumers of services," she said.
She also relayed gratitude to the South African Football Association (Safa), (CAF) and Fifa for their exposure to the strategic sector of the economy.
"We are using this summit to open our eyes and minds to think beyond just the unrivalled passion of football but use beautiful game as catalyst for tourism and socio-economic development," said Dube-Ncube.
SUNDAY TRIBUNE