Property development, by its very nature is an element of the economy and can be regarded as a multifaceted business, encompassing activities that include the development of undeveloped land by constructing residential, commercial and industrial buildings, either for leasing or selling. Based on the aforesaid, property development therefore has direct, indirect and induced impacts on the economy. Economic impact refers to the effects, positive or negative, on the level of economic activity in a given area. Measuring economic impact requires a baseline assessment conducted before the activity (property development) occurs and a second, comparable assessment conducted after the activity (property development) occurs. By using the Input- Output Model methodology, various anticipated direct and indirect economic impacts can be quantified. These economic impacts are derived using an understanding of economic cause-effect relationships. The principle of cause-effect is that for any economic action, there can be a multitude of different economic reactions (effects). For the purposes of this treatise, the main cause/action is the implementation of the proposed Alphen Aan Den Rijn Retirement and Lifestyle Village development in Oudtshoorn. The result is a number of direct potential/probable effects, which also have a range of indirect potential/probable effects. Based on the findings of the Input-Output Model, it is clear that the implementation of Alphen will have significant positive socio-economic benefits, e.g. additional business sales, additional GGP and additional employment for the local and regional environment. To ensure that these positive impacts are maximised for the benefit of the overall economy of Oudtshoorn as well as the population of Oudtshoorn, management strategies and mechanisms pertaining to the following are suggested for incorporation into the development proposal: • Workplace Skills Plan; • Labour Contracts; • Service Carrying Capacity Management Plan; • Economic Sustainability; and • Social Sustainability.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:nmmu/vital:8694 |
| Date | January 2010 |
| Creators | Van Schalkwyk, Aren |
| Publisher | Nelson Mandela Metropolitan University, Faculty of Business and Economic Sciences |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis, Masters, MBA |
| Format | 87 pages, pdf |
| Rights | Nelson Mandela Metropolitan University |
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