Strong visitor numbers, rising retail sales and global exposure defined the V&A Waterfront’s year in Cape Town.
Image: Supplied
More than three million people visited the precinct during the year, contributing to R1.4 billion in sales and supporting a New Year’s Eve celebration that drew 200,000 revellers on site and a global online audience running into the tens of millions.
Image: Supplied
Announcing the milestones, V&A Waterfront CEO Graham Wood says the results underline the importance of the precinct to the regional economy. The neighbourhood supports more than 83,000 direct and indirect jobs and contributes over 1.5% to the Western Cape’s GDP. Despite widespread development, construction and infrastructure upgrades, the V&A welcomed 25 million visitors in 2025, matching the previous year’s total.
Image: Supplied
“Even without the completion of our luxury retail wing, the V&A achieved more than R11 billion in retail sales in 2025, up 7%,” says Wood. “That represents another year of excellent growth.”
Global exposure and festive demand
The year ended on a high note with a New Year’s Eve celebration livestreamed by global internet personality IShowSpeed, also known as Darren Jason Watkins Jr. His YouTube broadcast of the event attracted more than 47 million views.
Image: Supplied
“This was incredible exposure for the V&A, Cape Town and South Africa,” Wood says.
December also saw the reopening of the InterContinental Table Bay Cape Town, following a 10-month conversion. The hotel’s return strengthened the precinct’s accommodation offering during the busy festive period. Demand across the V&A’s 13 hotels remained strong, with December occupancies averaging 69%. According to Wood, this performance reinforces the Waterfront’s position as a leading global tourism destination.
Looking ahead to 2026
Several major developments are set to come online in 2026. These include the opening of the long-anticipated luxury retail wing and the launch of the EDITION, Cape Town hotel in the third quarter. The new hotel will introduce a contemporary luxury offering and connect directly with the V&A’s superyacht basin, scheduled to open in October.
“These projects will deliver a new benchmark in luxury and lifestyle experiences at the Waterfront,” Wood says.
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Cruise growth and air access
In 2025, the Cape Town Cruise Terminal at the V&A hosted 74 vessels, welcoming 126,000 passengers and 45,000 crew members.
Image: Supplied
While geopolitical developments have had a short-term impact on the global cruise industry, Wood believes the long-term outlook remains positive.
Cape Town’s broader tourism performance continues to support this optimism. After being named the World’s Best City for 2025 by both the Telegraph Travel Awards and Time Out, the city recorded an 11% increase in international arrivals in December compared to the previous year.
Wood highlights the role of Cape Town’s Air Access initiative, which currently brings around 230 international flights into Cape Town International Airport each week.
“This is a strong example of effective collaboration between government and industry,” he says. “There is also an opportunity for Tourism Business Council of South Africa and SA Tourism to work more closely to grow international arrivals, particularly as South Africa faces increasing competition from East Africa.”
Innovation and long-term impact
Tourism contributes an estimated 9% to South Africa’s GDP and supports around 1.8 million jobs across hospitality, transport, retail and services.
“The V&A is proud of its leading role in the sector,” says Wood. “We remain committed to setting world-class standards and sharing our experience with the industry.”
He adds that innovation will be central to sustaining future growth.
Graham Wood/Supplied
“Innovation is the key that will unlock further growth, and it’s at the heart of what we do at the V&A. We confidently expect 2026 to be another year of growth, with benefits for jobs, small businesses and the economy.”
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