Popular SA tourist spot struggles with financial troubles
One of South Africa’s top tourist attractions is struggling with heavy financial losses years after its launch and now depends on city bailouts to survive.
Durban’s uShaka Marine World, once celebrated as Africa’s largest marine theme park and the flagship project of the city’s Point Precinct, now battles severe financial strain two decades after its launch.
The city opened the R700 million facility in April 2004 as both a tourist attraction and a catalyst for urban renewal.
Since then, more than 15 million visitors have experienced its attractions, including the world’s fifth-largest aquarium, the Wet-n-Wild water park, uShaka Beach, and the Village Walk shopping centre. However, its latest financials expose a harsh reality.
Iconic Durban tourist spot struggles to stay afloat
The latest annual report shows that in the 2023/24 financial year, uShaka Marine World generated average annual revenue of R202 million, while operating expenses reached R264 million.
The eThekwini municipality now covers nearly half of the park’s income, providing a R127.3 million grant last year and approving an additional R14 million cash injection to sustain operations during off-peak months.
CEO Ndabo Khoza attributes the financial strain to high running costs, noting that raising ticket prices to cover expenses would make entry unaffordable for most South Africans.
A weak economy, which reduces disposable income for leisure and travel, has worsened the challenge.
The park has also cut back on maintenance spending, creating future risks as its infrastructure continues to age.
Visitor numbers rose only 2.28% last year, missing projections, with losses tied to poor holiday weather and a month-long closure during industrial action in early 2024.
Although management has since resolved the wage dispute, staff costs remain one of the park’s biggest burdens. Without major restructuring or continued municipal support, uShaka Marine World may struggle to stay afloat.