Technology, infrastructure & better quality of life – here’s why Cape Town
Establishing a Cape Town Office or relocating your business to the Mother City is a very appealing prospect for many entrepreneurs around South Africa.
The city’s remarkable transformation over the past two decades means that the relocation dream is now very attainable. It also makes excellent sense in terms of access to technology, developed infrastructure, and the coastal lifestyle that rivals some of the world’s top destinations.
If you’d like to go back to the office with the beautiful backdrop of Table Mountain and the Atlantic Ocean to inspire you and your team as you work hard and innovate every day, read on. Here are some excellent reasons to choose Cape Town as your homebase and business headquarters.
A resilient economy powered by future proof industries
One of the major concerns that many business people have as they plan to reopen after the pandemic is just how dramatically some areas have changed as a result of COVID. There is also an undercurrent of apprehension surrounding other political and economic challenges facing South Africa.
While some cities have faced significant economic decline, with municipalities that are in serious financial distress, Cape Town has weathered the economic shock of Covid quite successfully. This can be seen clearly in the latest economic data released for the first quarter of 2021.
- The Western Cape saw economic growth of 4% during the first quarter of this year, with much of this positive momentum being generated in the Mother City itself.
- Inflation in the province was just over 3% during the same period – well within the reserve bank’s 3 to 6% target range.
- 1.26 million people are currently employed in the city of Cape Town with finance, transportation and communication, and the electricity and water industries ranking as the top three employment sectors in the city.
- Construction projects increased year on year, both in terms of value and the number of projects completed. These figures increased by 31.4% and 91.3% respectively.
Cape Town’s rapid economic bounce back has been possible thanks to the relatively advanced nature of its economy which stands out against those of other major South African cities.
A lower reliance on mining and traditional dirty industries and an emphasis on tech, finance, and clean energy have positioned Cape Town to do business with the world in an era where information and technology are the new gold.
Infrastructure for a dynamic future
The city of Cape Town prides itself on its forward-thinking approach to technology and innovation.
While there have been challenges along the way, it’s clear that the city has succeeded in developing transportation, financial and ICT infrastructure on par with many international destinations. This has been achieved despite having a lower GDP and lacking the geographical advantages of locations in Europe and Asia.
Proof of this success is not hard to find when we consider how many innovative companies have chosen to headquarter their Africa operations in the Mother City. These include Panasonic, Amazon and a host of other multinationals as well as the thousands of tech startups that Cape Town home.
Cape Town’s infrastructure initiatives include special economic zones, incentives for new business set ups, and the provision of connectivity to many communities across the city. The following areas of excellence have come to distinguish Cape Town from its competitors:
- Business process outsourcing
- Green tech in the Atlantis Special Economic Zone
- Digital technology
- Electronics manufacturing
- Food and beverages
- The film industry
- The ocean economy and import export
- Financial services
- A rejuvenated textiles manufacturing industry
These sectors are expected to record excellent growth as South Africa’s economy recovers from the COVID-19 shock in the years to come. Cape Town’s investment in infrastructure and pro-business policies should place the city at a competitive advantage to fully capitalise from these post-pandemic opportunities.
It’s not all about work – enjoy Cape Town’s world class lifestyle
An enabling business environment is essential for every company, but it’s also important to live and work in a city that offers great opportunities for relaxation, socialising and enjoying the fruits of your hard work.
- Cape Town’s unmatched natural beauty, its proximity to the ocean, mountains, and the Cape wine producing region make it the ideal place to live, work, and play.
- The Western Cape is known for its excellent schools and universities – good news for anyone relocating to the city with children. Enrolling them in school and university with the knowledge that they will receive a globally competitive education is a major draw card for the city.
Here’s why Cape Town commercial property – great space
The remarkable transformation that Cape Town has undergone over the past few decades means that many of the city’s sought-after buildings are extremely new – and many of them comply with green building standards and feature stylish modern layouts.
To take advantage of all the benefits that come with being based in Cape Town, contact the Commercial Space team today. Our area specialists are on hand to help you select the ideal Cape Town office.