2017 is shaping up to be an extremely good year for Cape Town! In less than a month it has not only been called out for being the most instagrammed city in South Africa, but it has also ranked as one of the world’s rising global players in the tech market.
According to the 2016 PropertyFox Virtual Realty Report one of the most effective ways to understand a consumer is through their social media engagements, and since Instagram has proven a very successful trend setter, even influencing purchasing decisions, the fact that Cape Town came out the smashing winner is a big achievement. Johannesburg came in second, and Durban third. As for the most instagrammed neighbourhood inside these three top cities, the report cited Camps Bay for Cape Town, Sandton for Johannesburg and Umhlanga for Durban.
As if being ranked number one on the hottest social network of the moment wasn’t enough, Savills Tech Cities 2017 report, identified Cape Town, along with Santiago and Buenos Aires, as also being top of the list for global tech companies looking for cities in which to locate.
The ‘Economic Performance Indicators Report’ of Cape Town, shows how the city has been an appealing destination for South African tech and e-commerce companies for some time now, and with a high-speed internet programme underway in the Western Province, it’s understandable why it would be an increasingly sought after location for corporate headquarters. Other categories in which Cape Town featured, positioning itself in ninth place, were ‘buzz and wellness’, which assesses factors such as health of the urban environment, crime rates, healthcare, pay equality and commuting times, and ‘cost of living’, in which the city came in second. Although this last component did not include property costs such as the cost of renting commercial property for tech companies, and the cost of renting residential property for employees in its calculation, these factors were taken into account separately. No worries though, because this separate valuation still allowed Cape Town to get points all-round. Thanks to the huge residential and commercial property investments which have taken place in the last decade, the city has in fact successfully evolved into a trendy, globally recognized, destination.