South Africa is one of the key growth economies in the world. Participating at Africa LED gives you access to a focused audience to help you gain new regional contacts and to expand your business into this vibrant geographical market.
South Africa is the Gateway into Africa
Representing one of the BRICS nations (an association of emerging national economies distinguished by their large, fast-growing economies). In 2013 the five BRICS countries (Brazil, Russia, India, China and South Africa) represent almost 3 billion people with a combined nominal GDP of US $14.8 trillion, and an estimated US$4 trillion in combined foreign reserves. Presently South Africa holds the chair of the BRICS group.
There is no shortage of economic growth in Africa. Six of the world’s ten fastest growing economies of the past decade are in sub-Saharan Africa. Some countries have enjoyed growth in income per person of more than 5% a year since 2007.
‘Africa and the world are more interconnected through trade, investment, migration, mobile phones, and new communications technology – than ever before and sub-regional and regional entities such as the African Union, have contributed to this reality. Importantly, cooperation between countries in the south is rapidly increasing’ said United Nations Development Programme (UNDP) Administrator Helen Clark during a side event at the African Union Summit Addis Ababa, 26 May 2013.
Discussing the 2013 Human Development Report, Helen Clark said the theme of the AU Summit, ‘African Renaissance,’ bolstered the report’s conclusion that the countries of the South are transforming themselves and the world around them.
UNDP’s 2013 Human Development Report addresses the ‘Rise of the South’, and argues that a significant number of developing countries – including in Africa, have transformed themselves into dynamic economies with growing geopolitical clout – radically reshaping the world of the 21st century,’ she said.
Released in March 2013, the Human Development Report and its accompanying Human Development Index (HDI) show the Africa region as having the second highest growth after South Asia over the past 10 years.
The GDP growth (annual %) in Sub Saharan Africa was last reported at 4.12 in 2011, according to a World Bank report published in 2012. According to the International Monetary Fund (www.imf.org) The GDP Growth Forecasts for Sub-Saharan Africa in 2013 is on average 2-6%.
South Africa export-based economy is the largest and most developed in Africa. The country is rich in natural resources and is a leading producer of platinum, gold, chromium and iron.
According to Census 2011, South Africa’s population stands at 51.77-million, up from the census 2001 count of 44.8-million.
International tourist arrivals in South Africa grew by 10.2% year-on-year to almost 9.2million in 2012, more than double the global average of around 4%, as announced on 26 April 2013. In 1993, South Africa received a mere 3.4million foreign visitors, by 2012, the figure had grown by 300 percent to 13.5-million visitors, of which 9.2million were tourists.
Europe remained the highest source of overseas tourists to South Africa in 2012, with arrivals growing by 9.5% year-on-year to 1,396,978 tourists, with the UK holding its position as South Africa’s biggest overseas tourism market – 438,023 UK tourists travelled to South Africa in 2012, a 4.2% increase over 2011. The United States was South Africa’s second-biggest overseas market, with the numbers up by 13.6% to 326,643 tourists, followed by Germany in third place, up 13% to 266,333 tourists. France, up 16% to 122,244 tourists in 2012, is now South Africa’s fifth biggest overseas market.
The biggest growth, however, came from Asia and South America, driven by large increases in arrivals from South Africa’s BRICS partners Brazil, India and China – since 2009, arrivals from China have more than tripled, arrivals from Brazil have more than doubled, and arrivals from India have almost doubled.
The 19th FIFA World Cup took place in South Africa from 11 June to 11 July 2010. The bidding process for hosting the tournament finals was open only to African nations; in 2004, the international football federation, FIFA, selected South Africa over Egypt and Morocco to become the first African nation to host the finals. The matches were played in ten stadiums in nine host cities around the country, with the final played at the Soccer City stadium in South Africa’s largest city, Johannesburg.