South African Economy is Focusing on Expansion of Small Medium Enterprise and Diversification of Tourism Sector to Boost the Economic Growth of Country


   January 10 2017

The South African economy is dominated by the service sector, which contributed approximately 68.7% to the total GDP in 2016.  Industrial sector contributes 27.5% of GDP, in which the manufacturing contributes 11.9% of GDP. South African government is looking towards promoting diversification in the tourism sector and expansion of small and medium scale enterprises in the textile and sugar industries. Strong total consumption caused by an increase in household consumption and government spending, is expected to be the main growth driver of the South African economy.

Lucintel, a leading global Management Consulting and market research firm, has analyzed the political, economic, social, technological, legal, and environmental factors of South Africa and has come up with a comprehensive research report, PESTLE Analysis of South Africa 2016.” This report provides an analysis of the South Africa’s economy from historical, current, and future perspectives. Swot Analysis, forecast and scenario analysis, and risk analysis of South Africa is also included in the report. The report also includes the forecast for South African economic growth through 2021.

The report highlights various drivers and challenges which have influenced investment decisions in the economy. South Africa is a politically stable country, and has a current account surplus. South Africa’s literacy rate is 94.3% and R&D spending is 2.2% of GDP in 2016.  South Africa is currently facing challenges, like high unemployment rate, high fiscal deficit, low foreign reserves, and currency depreciation. The South African economy is expected to show a gradual recovery of economic activity, with strengthening economic growth in 2017. The expansion of economic activity will rely on the growth of household consumption and investment, with an increase in manufacturing exports followed by the currency appreciation.

This 75-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, market insight, and cost efficiency. To learn more, visit www.lucintel.com . You can also contact us through Live Chat in its website to answer your questions in real time. Lucintel offerings include SWOT Matrix, Due diligence,  Mergers & Acquisitions, Industry/Market Analysis and Strategic Growth Consulting.

 

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