Local Economy

local economy: Cape Town has had to find other ways to bring money into the local economy - one of which has been the lucrative property market, according to BBC. The Lerato Mbele has been finding out how the city is positioning itself for the changing dynamics in the tourism and property markets and Tourism accounts for one in 12 jobs in South Africa but since the global credit crisis, the industry has suffered a few setbacks. Many investors are foreigners capitalising on the weaker South African rand. And falling oil prices, could mean there will be more money to spend on luxury homes. (news.financializer.com). As reported in the news.