Changing worldwide economical development

At the beginning of the 21st century the world economy experiences a constant change – a situation with beneficial aspects for companies. Globalization, new consumer behavior, demographic changes – there are only a few sectors remaining unchanged by this global development.

South Africa in an economic upsurge

This development has also a big impact on South Africa’s economy. Since the process of democratization begun, the economy of the country at the southern tip of Africa is experiencing a significant boom. The gross domestic product (GDP) has grown in the last years with an average rate of 4.5% to 4.9%. Germany is one of the most important trade partners of the Republic of South Africa. In 2005 the trade volume between the two countries accounted for for approx. EUR 10.17bn. Compared to the previous year this was an increase of 8.65% and the outlook continues to be promising.

For 2007 South African economic research institutes expect a solid growth of the GDP of about 4.5%. With estimates for 2008 foreseeing a GDP growth rate of about 5.1% South Africa would see its ninth consecutive year of positive economic growth. By investing large amounts in the infrastructure of the country, the government continues to improve the attractiveness of South Africa for foreign investors. Based on this development South Africa continues to become one of the most interesting and financially rewarding destinations for foreign investors and trading partners.

Benefiting from South Africa’s markets

Under the section “Chances” ESA-Meridian Consulting shows some of South Africa’s economic growth sectors offering good business opportunities to German and European companies. However, South Africa’s markets are very diverse and offer very good business opportunities to other innovative products, concepts or services from other sectors.

Please contact us anytime for a first informal exchange of ideas. >>>