Annual Economic Review
Overview
The Annual Economic Review 2015 profiles the economic performance of the City of Johannesburg and describes its place in the South African economy. Using a wide range of economic and socio-economic data the analysis shows the City remains South Africa’s economic hub and an economic powerhouse on the African continent.
Despite global and local economic headwinds of the past few years, Johannesburg remains a vibrant globally significant metropolitan economy to which people seeking opportunity and a better life gravitate. The City’s economic integration with the African continent has progressively deepened over recent years.
The analysis also reveals the economic and social challenges the City faces – slowing economic growth, changes in growth drivers and structure of the economy, rapid inward migration and population growth. Despite much progress in job creation and services delivery there is also continued high unemployment and poverty levels and persistent backlogs in household service provision. The message is clear, economic growth is needed which creates more jobs and livelihood opportunities for citizens and more revenue for City authorities to invest in City infrastructure and improved services delivery and urban management. More and better infrastructure and better City services improve the lives of citizens and bring better prospects for the economy. Indeed, the City’s Economic Development Strategy maps out viable approaches and pathways to progressively meet these challenges and fulfil the City’s promise.
Economic importance
The Inner City contributes over 23.1% to the City’ GGP (Former Region 8)
Largest concentration of infrastructure in SA: infrastructure replacement costs are +R30bn
Some Inner City Nodes have the Highest concentration of retail space
Industrial space is located throughout Inner City reflective of its historic mining & manufacturing economy
Integrated urban economic system
– Provides more jobs than Sandton, Woodmead/Rivonia & Randburg combined
– Important anchor for E-W corridor & N-S Corridor (location of Gautrain route)
– Location of corporate HQs plus SMEs
Economic Factors
Vision
an economically vibrant and modern, structurally transformed landscape and skyline to be achieved through synchronized and coordinated innovative interventions, strategically anchored on the UDZ tax incentive.
Leading to creation of wall-to-wall thematic precincts
Since the promulgation of the UDZ tax incentive the City of Joburg has attracted R16.0Billion in private property development half of which constitutes competed buildings and pockets of excellence; It has created more than 150,000 construction related job opportunities
Excerpts
Region F Suburbs
Suburbs in the region include: Aeroton, Aspen Hills, Bassonia, Bellevue East, Bellevue, Benrose, Berea, Bertrams, Braamfontein, City and Suburban, City and Suburban Industrial, City Deep, City West, Crown Gardens, Denver, Doornfontein, Droste Park, Elandspark, Elcedes, Fairview, Ferreirasdorp, Fordsburg, Glenanda, Glenvista, Heriotdale, Highlands, Hillbrow, Jeppestown South, Jeppestown, Johannesburg Inner City, Judith’s Paarl, Kenilworth, Kensington, Kibler Park, La Rochelle, Liefde-en-Vrede, Linmeyer, Lorentzville, Malvern, Marshalls Town, Marshalls, Meredale, Moffatview, Mondeor, Mulbarton, Nasrec, New Doornfontein, Newtown, North Doornfontein, Oakdene, Ormonde, Pageview, Randview, Regentspark, Robertsham, Rosettenville, Salisbury Claims, Selby, South Hills, Spes Bona, Suideroord, The Hill, Troyeville, Tulisapark, Turffontein, Village Main Ext 3, Vrededorp, Winchester Hills and Yeoville.
Demographic Information
The region’s population is estimated to be 433,054 (Census 2001, Stats SA). However, this figure is inaccurate because the number of people living in the inner city on a temporary basis is unknown.
There is a distinct difference in demographics between the inner city and the southern part of this region. In the past few years higher-income residents and whites have moved away from the inner city bowl and are being replaced by a lower-income population of blacks.
This is in complete contrast to the southern part of the region – Mulbarton, Glenvista, Aspen Hills, Allan Manor, Bassonia and so forth – which is 66 percent white and relatively youthful, with 38 percent being under 25 years old.
The population of Johannesburg South is young and growing, partly because of an influx of new homeowners from Soweto drawn by better housing, land value and facilities, as well as swift, convenient access to their places of employment.