COMMONWEALTH GAMES BRING NO IMMEDIATE GAINS
Durban has won the right to host the 2022 Commonwealth Games and many are looking for the investment opportunity as we did with the 2010 Fifa World Cup. Construction is not an option as most of the infrastructure is already in place, with only a few temporary facilities needed. Hospitality will do well but it will be localised around Durban for the few weeks of the event. Sure they’ll do well, but I’m not sure it’ll be enough to really move the dial. In short, the winner will be longer-term awareness of Durban and South Africa. There will be one big winner, Airbnb. This will help locals rent out rooms and if anything, will dent hotels’ income. Since we’re unable to invest in Airbnb, I’ll just be a spectator.