Cape Town Time: 22:54 Sun, 22 September 2019

Cape Town’s Economy

Cape Town is South Africa’s oldest city, its second­most populous and an important contributor to national employment. It is the legislative capital of South Africa, the administrative and economic centre of the Western Cape, and Africa’s third biggest economic hub.

The Mother City produces 9.8% of South Africa’s gross domestic product (GDP) and accounts for more than 71% of the Western Cape’s economic activity. The City has a diversified economy, and the three biggest sectors are:

Cape Town is the gateway to the rest of the continent and offers a long list of opportunities in a variety of sectors.

The region has welcomed nearly 300 direct investments, attracting over US$7.6 billion worth of FDI in just under nine years.

The business service sector, including Business Process Outsourcing (BPO) and Info‌rmation Technology (IT) has been the largest contributor to employment growth in Cape Town over the last 10 years. In 2016, Cape Town accounted for 82% of the Western Cape and 13% of South Africa’s business services sector.

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