South African economy predicted to grow by 2.3% in 2010
If you are considering relocating to South Africa, you may be interested to know that the South African government have announced that they expect the economy to enlarge by 2.3% in 2010. The government predict that this growth will stem mainly from football fans visiting South Africa for the World Cup this summer. It has been estimated that the major sporting event will attract over half a million tourists.
South African Finance Minister Pravin Gordhan announced the results of the budget last month and also stated intentions to improve youth unemployment.
Despite this economic growth prediction, South Africa still suffers from high unemployment and polarisation between rich and poor societies. Unemployment currently stands at 24.3%.
