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Economy

The city is South Africa 's second main economic centre and Africa 's third main economic hub city. It serves as the regional manufacturing centre in the Western Cape. In 2019 the city's GMP of R489 billion (US$33.04 billion) represented 71.1% of the Western Cape's total GRP and 9.6% of South Africa's total GDP; the city also accounted for 11.1% of all employed people in the country and had a citywide GDP per capita of R111,364 (US$7,524). Since the Great Recession, the city's economic growth rate has mirrored South Africa's decline in growth whilst the population growth rate for the city has remained steady at around 2% a year. Around 80% of the city's economic activity is generated by the tertiary sector of the economy with the finance, retail, real-estate, food and beverage industries being the four largest contributors to the city's economic growth rate.

In 2008 the city was named as the most entrepreneurial city in South Africa, with the percentage of Capetonians pursuing business opportunities almost three times higher than the national average. Those aged between 18 and 64 were 190% more likely to pursue new business, whilst in Johannesburg, the same demographic group was only 60% more likely than the national average to pursue a new business.

With the highest number of successful information technology companies in Africa, Cape Town is an important centre for the industry on the continent. This includes an increasing number of companies in the space industry. Growing at an annual rate of 8.5% and an estimated worth of R77 billion in 2010, nationwide the high tech industry in Cape Town is becoming increasingly important to the city's economy. A number of entrepreneurship initiatives and universities hosting technology startups such as Jumo, Yoco, Aerobotics, Luno, Rain telecommunication and The Sun Exchange are located in the city.

The city has the largest film industry in the Southern Hemisphere generating R5 billion (US$476.19 million) in revenue and providing an estimated 6,058 direct and 2,502 indirect jobs in 2013. Much of the industry is based out of the Cape Town Film Studios.