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.
Johannesburg is the largest city in South Africa. Johannesburg is the provincial capital of Gauteng, the wealthiest province in South Africa, having the largest economy of any metropolitan region in Sub-Saharan Africa. Johannesburg is one of the 40 largest metropolitan areas in the world, and is also the world’s largest city not situated on a river, lake, or coastline. Johannesburg is one of the world’s leading financial centres and it is the economic and financial hub of South Africa, producing 16% of South Africa’s gross domestic product, and accounts for 40% of Gauteng’s economic activity.
Johannesburg has an overall cost of living index which equates it with middle 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.