The economy of South Africa is a two tiered economy; one rivaling other developed countries and the other with only the most basic infrastructure. It is therefore a productive and industrialised economy that exhibits many characteristics associated with developing countries, including a division of labour between formal and informal sectors and an uneven distribution of wealth and income. The primary sector, based on manufacturing, services, mining, and agriculture, is well developed.
Cape Town is the provincial capital and primate city of the Western Cape, as well as the legislative capital of South Africa, where the National Parliament and many government offices are situated.
Cape Town is the economic centre of the Western Cape Province, South Africa’s second main economic centre and even Africa’s third main economic hub city. It serves as the regional manufacturing centre in the Western Cape. It also has the primary harbour and airport in the province.
Cape Town has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.
The latest cost of living rank for each of the 13 Basket Groups is now available.