The iconic South African precinct that made R11 billion in one year

In 2025, the V&A Waterfront welcomed 25 million visitors and generated over R11 billion in retail sales, and the mall has even bigger plans for 2026.

In December 2025 alone, the V&A saw three million-plus visitors, R1.4 billion in sales, and a New Year’s Eve party with 200,000 revellers and a global audience of tens of millions.

Announcing the V&A milestones, CEO Graham Wood said these are encouraging indicators for a neighbourhood that supports over 83,000 direct and indirect jobs and contributes more than 1.5% of the Western Cape’s GDP.

“We welcomed 25 million visitors in 2025, matching the previous year despite significant development, construction, and infrastructure upgrades across the precinct,” he said.

“Even without the completion of our luxury retail wing, the V&A achieved more than R11 billion in retail sales in 2025, up 7%, another year of excellent growth.”

The year culminated in a New Year’s Eve party livestreamed by one of the world’s most popular internet personalities, IShowSpeed (Darren Jason Watkins Jr).

“His YouTube stream of the event had more than 47 million views. This was incredible exposure for the V&A, Cape Town, and South Africa,” Wood said.

The reopening of the InterContinental Table Bay Cape Town in December after a 10-month conversion was a fillip for the precinct’s accommodation offering.

“Demand across our 13 hotels remained robust over the festive period, with December occupancies a healthy 69%, reinforcing the V&A Waterfront’s strength as a global tourism destination.”

The retail hub is showing no signs of slowing down. In 2026, the V&A will be opening a new luxury retail wing. It will also open a new hotel, EDITION, in Q3.

Wood said the hotel will deliver a new benchmark in contemporary luxury, interfacing seamlessly with the V&A’s new superyacht basin scheduled to open in October.

Long-term growth potential

Wood explained that in 2025, the Cape Town Cruise Terminal at the V&A welcomed 74 vessels, 126,000 passengers and 45,000 crew.

“Despite the short-term impact of geopolitical developments on cruising, there is long-term growth potential in the cruise market.”

After being named as the best City in the world for 2025 by the prestigious Telegraph Travel Awards and Time Out, Cape Town’s December international arrivals were 11% higher than a year earlier.

There was also a 13% increase in regional arrivals and a 6% increase in domestic arrivals over the same period.

Wood said Cape Town’s Air Access initiative plays a key role in bringing 230 international flights to Cape Town International Airport every week. “This is a great example of collaboration between Government and industry.”

Cape Town landmarks saw the direct impact of the city’s boost in foot traffic. Table Mountain welcomed 6% more visitors than in December 2024, despite challenging wind conditions, and Robben Island arrivals increased by 10%.

In addition, Chapman’s Peak Drive recorded an 11% rise in visitors, while Cape Point reached capacity on several peak days.

Wood added that there is an opportunity for the Tourism Business Council of South Africa and SA Tourism to work together to further increase international air arrivals, since the country is losing ground to East Africa in particular.

“Tourism is a key economic driver, contributing 9% of GDP, supporting about 1.8 million jobs across hospitality, transportation, retail, and services.”

“The V&A is proud of its leading role in the sector, and we are committed to continue setting world-class standards and sharing our experience with the industry.”

Wood explained that innovation is the key to unlocking further growth, and it’s at the heart of what we do at the V&A.

“Where we lead, we encourage and support others to follow. We confidently expect 2026 to be another year of growth, with benefits for jobs, small businesses, and the economy.”