Tens of thousands of horse racing punters, fashionistas, foodies and other visitors who descend on eThekwini to party at the Hollywoodbets Durban July this weekend are expected to contribute around R700 million to the citys GDP.
Africas largest horseracing event, themed Marvels of Mzansi, is expected to generate significant economic activity and create 4 000 jobs, eThekwini Mayor Cyril Xaba said at the launch of the event at Westown Square in Shongweni.
The event takes place at Greyville Racecourse on 5 July.
Xaba said the citys tourism and hospitality sectors anticipate an 80 hotel occupancy rate as visitors converge for the horseracing and fashion spectacle, which celebrates South Africas cultural heritage, diversity and landscapes.
The direct spend is estimated at R278 million, with a total of R700 million contribution to the eThekwini GDP, and a total number of 4 000 jobs to be created, Xaba said.