Cape Town has become South Africa’s wealthiest city with a growth rate of 10% over the past decade, defying the trend seen in Johannesburg. The city’s stunning natural beauty, lifestyle, and thriving tourism and tech industries are contributing factors to its economic rise. Recent trends show that Cape Town is gradually closing the gap with Johannesburg and is set to surpass it as the country’s wealthiest city by 2040. The migration of wealth towards coastal cities, driven by the allure of ocean living and a more relaxed lifestyle, is a key trend shaping South Africa’s financial landscape.
