B20 Launch Event in Cape Town helps drive tourism, trade and investment

Cape Town will be a central hub for discussions on economic cooperation this week as it hosts the B20 Launch Event.

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This important gathering will bring together hundreds of delegates and is expected to strengthen key sectors, including tourism, while driving trade and investment.

The B20 brings together business leaders from across G20 nations to address pressing global economic and trade challenges.

This platform plays an instrumental role in shaping global economic policies and promoting international collaboration.

Perfect backdrop

Cape Town and the Western Cape provides the perfect backdrop for such a high-profile event.

The region’s combination of natural beauty, rich culture, world-class infrastructure, state-of-the-art conference venues, and business-friendly environment make it an ideal location for global forums of this magnitude.

With representatives from 19 nations and 2 regional organisations, including the Western Cape’s key trading partners the EU, UK, USA, China and the AU, the B20 presents a unique opportunity to position our destination for tourism, trade and investment.

Together, this influential group accounts for more than two-thirds of the global population, over 75% of global trade, and 85% of global GDP.

In 2023, according to SARS and Quantec, markets that constitute the B20 grouping accounted for 89% of the Western Cape’s exports, valued at R178.88 billion.

Furthermore, they were the source of 55% of the region’s international arrivals, totalling 716 517 visitors, according to South African Tourism data.

Broader benefits

Wrenelle Stander, CEO of Wesgro, the tourism, trade, and investment promotion agency for Cape Town and the Western Cape, commented on the broader benefits of hosting the B20 Launch Event.

“Wesgro is proudly South African and is on a mission to drive inclusive and sustainable growth, strengthen competitiveness and create jobs.

“To do this, we are focused on unlocking access to new markets and new buyers, including China, ASEAN member countries, India, Brazil, and the Middle East.

“This, while we maintain a continued focus on established markets including the EU, USA, UK and the rest of Africa. The B20, with its global representation, provides an important platform to achieve these objectives.”   

She added: “For Cape Town and the Western Cape, the B20 offers an opportunity to highlight our world-class infrastructure, seamless connectivity to key markets, and effective governance that makes doing business here a seamless experience.

“Our region is also home to globally renowned universities, driving innovation and positioning us as a hub for knowledge and talent.”

B20 Summit in November 2025

The B20 Launch Event marks the beginning of a year-long series of engagements, culminating in the B20 Summit in November 2025.  

With hundreds of business representatives, the B20 is a powerful forum for driving policy recommendations.

These recommendations, developed by task forces throughout the presidency, aim to address critical trade and investment challenges, ensuring a more inclusive and sustainable global economy.

Alderman James Vos, Cape Town’s Mayoral Committee Member for Economic Growth, said: “Cape Town’s role as the host city for the B20 event strengthens our position as a premier global conference and events hub. The city’s diverse offerings and high service standards make it a compelling destination for organisations across various industries, providing delegates with an exceptional experience during their stay.”

Dr Ivan Meyer, Western Cape Minister of Agriculture, Economic Development, and Tourism, emphasised the wider impact of hosting such a high-profile event.

“Hosting the B20 Launch Event will support our efforts to boost tourism, attract investment, open new markets, drive economic growth, and create jobs as part of our Growth for Jobs strategy. It will also unlock valuable opportunities and strengthen key growth sectors.”

The B20 South Africa Launch event will take place in Cape Town on 24-25 February 2025.

Will you be following the B20 Launch Event with keen interest?

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