The Western Cape continues to lead the way in South Africa, with impressive statistics highlighting the province's success in job creation, economic growth, and overall quality of life. As reported by Western Cape Premier Alan Winde, the province has been responsible for nearly 79% of all net jobs created in South Africa over the past five years, meaning that out of every five jobs created in the country, four were in the Western Cape.
Key Highlights:
Human Development Index (HDI) in the Western Cape has improved from 0.61 in 2001 to 0.74 in 2021, surpassing South Africa's score by 10 decimal percentage points.
The Gini Coefficient, measuring inequality, was 0.60 in the Western Cape in 2021, compared to 0.68 nationally, indicating a more equal society in the province.
The Western Cape is just 0.4% away from bringing unemployment below 20%, maintaining the lowest unemployment rate in the country.
Initiatives like Cape Town Air Access have boosted tourism, with December 2023 seeing the highest monthly total of foreign passengers at Cape Town International Airport, injecting nearly R2-billion into the province's economy.
The province is making strides in reducing crime rates, with initiatives like the Law Enforcement Advancement Plan (Leap) and rural safety units.
The Western Cape is working towards becoming the first province to beat rolling blackouts by empowering municipalities and the private sector to find energy solutions.
These achievements demonstrate the Western Cape's commitment to improving the lives of its citizens through targeted interventions and programmes in health, education, social development, and economic growth. The province's budget allocation further emphasizes this focus, with 75.4% of the R255.29-billion budget over the 2024 medium term being spent on meeting the needs of the poor and vulnerable.
For those looking to be a part of this thriving province, Haasendal Estate in the Northern Suburbs of the Western Cape offers an attractive opportunity to live or invest. With apartments starting from R900,000 and own title homes from R1.8 million, this development provides a chance to experience the quality of life that the Western Cape is known for. To learn more or arrange a personal tour, contact Peter Noctor at pnoctor@houseofrealtors.co.za or 072 989 0998.
As the Western Cape continues to shine as South Africa's beacon of hope, it's clear that the province's strategic initiatives and focus on its citizens' well-being are paying off, making it an attractive destination for both living and investing.
