Economic Profile
Joburg, the economic powerhouse of Africa, was founded in the heydays of one of the world's biggest and richest gold rushes - earning it the name of Egoli meaning 'place of gold'.
As the most powerful commercial centre on the African continent, Johannesburg generates 15%* of South Africa's GDP and employs 12% of the national workforce. Its infrastructure matches leading first world cities, yet the cost of living is far lower. The city is recognized as the financial capital of South Africa and is home to 75% of Corporate Headquarters. The Johannesburg Stock Exchange (JSE) rates as one of the top 20 exchanges in the world in terms of market capitalization.
Key industries and areas of innovation in Johannesburg include a multiplicity of commercial and creative activities – from banking and finance, gold mining, manufacturing and health sciences to transport, business services and outsourcing, information and communication technologies, automotive, television, film and creative industries, to mention but a few.
Johannesburg offers a plethora of cultural, leisure, sporting, fashion and lifestyle activities. The City’s legendary shopping, dining, entertainment and nightlife is complimented by fabulous weather as well as an astonishing array of facilities which add to its appeal as a destination.
*The City contributes 15.28% to the GDP of South Africa (Source: South Africa Regional eXplorer v2404. 2023. S&P Global. Prior to this S&P Global was known as IHS Markit.). Johannesburg’s economy comprises various industries. In 2022, the finance sector is the largest within City of Johannesburg Metropolitan Municipality accounting for R 292 billion or 32.1% of the total GVA in the metropolitan municipality's economy. The sector that contributes the second most to the GVA of the City of Johannesburg Metropolitan Municipality is the community services sector at 25.4%, followed by the manufacturing sector with 14.9%.
Gross Value Added(GVA) by broad economic sector - City of Johannesburg Metropolitan Municipality, 2022 [percentage composition]
Source: South Africa Regional eXplorer v2404.
Data compiled on 10 Jul 2023.
© 2023 S&P Global.
MDB (Municipal Demarcation Board) code: JHB
Description: The City of Johannesburg Metropolitan Municipality is located in the Gauteng Province. Johannesburg is the most advanced commercial city in Africa and the engine room of the South African and regional economy. It is a city with a unique, African character, world-class infrastructure in the fields of telecommunications, transportation, water and power, and with globally-competitive health care and educational facilities. However, the city is also one of contrasts – home to both wealthy and poor, residents and refugees, global corporations and emerging enterprises.
Area: 1 643km²
Cities/Towns: Alexandra, Diepkloof, Diepsloot, Ennerdale, Johannesburg, Johannesburg South, Lawley, Lenasia, Lenasia South, Meadowlands East, Meadowlands West, Midrand, Orange Farm, Pimville, Randburg, Roodepoort, Sandton, Soweto
Main Economic Sectors: Finance and business services, community services, manufacturing, trade (collectively 82%).(Source: https://municipalities.co.za).
Invite Gmail Contacts
