Western Cape emerges as SA's fastest-growing economy with R666.8bn GDP

THE Western Cape has cemented its place as South Africa's fastest-growing provincial economy, with its real Gross Domestic Product by Region (GDPR) reaching R666.8 billion in 2024. This milestone means the province now accounts for 14.3% of the country's total GDP, according to new estimates from Statistics South Africa.

- WENDY DONDOLO

Between 2014 and 2024, the province’s economy expanded by 8.7%, outpacing Gauteng (7.7%) and KwaZulu-Natal (7.5%). Despite South Africa’s broader economic challenges, including sluggish investment and high unemployment, the Western Cape recorded a compounded annual growth rate (CAGR) of 0.83%, ahead of the national average of 0.67%.