Cape Town, South Africa News

About Cape Town, South Africa

Cape Town is the economic centre of the Western Cape and serves as the regional manufacturing centre. It also has the primary harbour and airport in the Western Cape.

The large government presence in the city, both as the capital of the Western Cape and the seat of the National Parliament, has led to increased revenue and growth in industries that serve the government. Cape Town hosts many conferences, particularly in the new Cape Town International Convention Centre, which opened in June 2003.

The city has recently enjoyed a booming real estate and construction market, with many people buying summer homes in the city as well as relocating there permanently.

The central business district is under an extensive urban renewal programme, with numerous new buildings and renovations taking place under the guidance of the Cape Town Partnership.

The central business district is expecting a private-sector investment influx of ZAR30-35billion (US$5-6billion) over the next 5 years, confirmed by the Partnership.

Cape Town has four major commercial nodes, with Cape Town Central Business District containing the majority of job opportunities and office space. Century City, the Bellville/TygerValley strip and Claremont commercial nodes are well established and contain many offices and corporate headquarters as well.

Most companies headquartered in the city are insurance companies, retail groups, publishers, design houses, fashion designers, shipping companies, petrochemical companies, architects and advertising agencies.

The Western Cape also generates a quarter of the South African agricultural sector's total gross income and more than half of South Africa's exports.

Much of the produce is handled through the Port of Cape Town or Cape Town International Airport. Most major shipbuilding companies have offices and manufacturing locations in Cape Town.

The Province is also a centre of energy development for the country, with the existing Koeberg nuclear power station providing energy for the Western Cape's needs. Recently, oil explorers have discovered oil and natural gas off the coast in the Atlantic Ocean.

The Western Cape is an important tourist region in South Africa; the tourism industry accounts for 9.8% of the GDP of the province and employs 9.6% of the province's workforce. In 2004, over 1.5 million international tourists visited the area.

The mining industry in Cape Town has been booming for last 6 years. 6000 miners are now employed in the mining industry since 2002.

Other Major Cities:

• Crossroads
• Durbanville
• Eersterivier
• Elsies River
• Goodwood
• Guguletu
• Khayelitsha
• Kraaifontein
• Kuilsriver
• Langa
• Mfuleni
• Milnerton
• Mitchells Plain
• Nomzano
• Nyanga
• Parow
• Somerset West
• Strand