Gauteng province covers just 1.4% of South Africa’s land mass but it produces about a third of South Africa’s gross domestic product (GDP), and a remarkable 10% of that of the African continent. Whereas mining used to account for Gauteng’s dominance of the regional economy, the province is now a leader in a wide range of other sectors: finance, manufacturing, commerce, IT and media among them.
The Bureau of Market Research (BMR) has shown that Gauteng accounts for 35% of total household consumption in South Africa.
The leading economic sectors are finance, real estate and business (21% of provincial GDP), manufacturing (16.5%), government services (16.3%) and wholesale, retail, motor trade and accommodation (12.8%). The so-called creative industries (including advertising and the film sector) employ upwards of 180 000 people and contribute more than
R3.3-billion to the provincial economy. The provincial government’s Economic Development Plan sees this sector as one of the key drivers of future growth.
To read the full article click here