Cape town: Data from payment provider, Yoco, indicates that in December 2025, Cape Town, Stellenbosch, and Plettenberg Bay accounted for 67% of all international visitor payments across South Africa, translating into R500 million for local businesses and job protection. This was highlighted by Western Cape Premier Alan Winde during the Western Cape State of the Province Address.
According to South African Government News Agency, Winde emphasized the positive economic conditions in the region. He noted that the country's removal from the grey list, along with reduced fuel prices, lower inflation, and a stronger Rand, has contributed to economic growth in the Western Cape. Over the past five years, the province has seen its economic growth double, with nearly 90% of all net jobs in South Africa being created in the Western Cape.
Winde reported that 93,000 new jobs were created in the last quarter, reducing unemployment to 18.1%, the lowest in the nation. Since 2022, the number of small businesses in the province has grown by 55%, supported by the Western Cape Government's efforts to cut red tape and provide business support.
The SME Accelerator Support programme, in collaboration with the Johannesburg Stock Exchange, has enhanced investment readiness for small businesses, matching 115 businesses with funders. The province also initiated the TechTalks series to assist businesses with technology adoption, particularly AI.
In the aerospace sector, 20% of global satellites have components manufactured in the Cape. The Western Cape is also advancing its boatbuilding industry and logistics sector, supporting national reforms through Operation Vulindlela to boost economic growth and modernize the economy.
Winde welcomed initiatives to improve the efficiency of the Port of Cape Town and encouraged private investment in infrastructure. Additionally, the province offers free Wi-Fi at 1,600 sites to aid jobseekers, boasting almost one million subscribers by December 2025.
Following a successful investment summit, Winde announced upcoming projects nearing financial close, including significant investments in the green hydrogen, manufacturing, tech, green economy, and solar energy sectors, projected to create thousands of jobs and improve living conditions for many residents.