Cape Town's dynamic economy is an African business hub for entrepreneurship and innovation.
The city is digitally connected, offers a favourable lifestyle, sound infrastructure, a skilled and energetic workforce, four top universities and two globally recognised business schools. The world-class central business district is a safe, bustling centre of commerce and retail activity.
Cape Town’s economy is the second largest municipal economy in South Africa and the second most important contributor to national employment.
- the second busiest container port in SA and the second busiest airport in SA;
- a service-driven economy with established business culture and clustering of financial institutions;
- strategically positioned on the west coast of Africa;
- a powerful skills pipeline; and
- the best place in Africa for hi-tech.
- good public transport linkages in the city;
- soundness of banks rated third in the world by the WEF;
- scenic beauty and natural sights that attract international visitors and make the city globally recognisable;
- three major universities in the metro region. One of these is the top-ranked university in Africa, and the second highest ranked university in South Africa is located just outside the metro boundaries in the historic and beautiful town of Stellenbosch.
- large agricultural surroundings and act as a processing centre,
- trade and retail hub of farming products.
The biggest economic sector, by value, in Cape Town in 2016 was the finance and business service sector, contributing R96,9 billion (35% of the GDP_R at constant 2010 prices), while manufacturing contributed R40,7 billion (15%), and community services contributed R47,8 billion (17%).
Detailed sectoral breakdowns
Cape Town’s fuel, petroleum, chemical and rubber products (26%) and food, beverages and tobacco products (25%) sub-sectors were the largest contributors to the manufacturing sector.