And as the year 2004 approaches, the eyes of the world are increasingly turning to Cape Town not only as a newly fashionable tourism destination, but as a possible host to Africa's first Olympic Games. The opening of the Table Bay Hotel this evening marks the addition of a major asset to our national tourism infrastructure. That alone would be cause for satisfaction. However this opening also represents a substantial commitment, at the heart of the established tourism industry, to community empowerment and black economic development. With half its equity owned by black shareholders and investment opportunities for nearly twenty thousand previously disadvantaged small investors, the establishment of SunWest promotes a significant expansion of a community stake in a rapidly growing sector of our economy.
Government is committed to promoting the development of the industry.
But our commitment is not enough to realise this potential. Government is creating an environment that will make South Africa an attractive arena for domestic and foreign tourism operations. But it is up to the industry itself to stimulate the markets, develop the infrastructure, and create the tourism-friendly conditions that will make us globally competitive. Achieving these ambitious goals requires a partnership of government, the private sector and other sectors of society. Our long history of oppression and enforced separation has created an immense backlog of social and development needs.