The world is moving to emerging markets, looking to grow into the future, and Cape Town is at the forefront of this movement. A stable and growing economy, the province was named the 8th strongest economy in the entire continent in 2016, it’s easy to see why with the second busiest container port and second busiest airport in Africa.
The tourism industry alone accounted for $1.6 billion in 2017, a truly astounding achievement. Cape Town is not only growing, but it’s also going green, with 70% of South Africa’s renewable energy manufacturing coming from this province. Cape Town is looking forward and would be a solid choice for investment in the future.
Cape Town is also the tech startup hub of Africa, currently home to over 500 entrepreneurial businesses in this sector. A working ecosystem of tech business will give people the platform to start their own business or maybe jump onto someone else’s, it’s always easier when there is already a platform of experience to draw from.
South Africa is the largest tech consumer market on the continent and also boasts an agricultural sector that accounts for 10% of South Africa’s total export value yearly.
Cape Town ultimately offers any investor the hope of an emerging market while still being stable enough to trust and work forward in the future.