Cape Town Central City Improvement District (CCID) released their annual “The State of Cape Town Central City Report for 2019” which reflects on the bigger picture of the economy of the Central City in the past year.
The findings revealed that the Central City has held its own quite remarkably, despite 2019 presenting its own challenges. Last year, stakeholders and investors in the CBD had to cope with the aftermath of the 2018 drought and subsequent water crisis, ongoing load-shedding and a tough economic climate. This year, the city’s resilience was tested once again in the face of the devastating health and economic effects of the COVID-19 pandemic.
Despite all of this, aside from many other key findings, the city saw property investments of almost R14 billion. The year under review also saw the art economy flourish, with Cape Town emerging as the art capital of Africa.
To find out more, you can view the report in detail here: https://www.capetownccid.org/sites/default/files/pdfs/publications/The%20State%20of%20Cape%20Town%20Central%20City%20Report%202019.pdf