Why should you retire to Cape Town?

retirement-in-Cape-Town

If you are considering retiring, then Cape Town is your ideal destination! In a world obsessed with change, the value of an unhurried life is precious. Cape Town is renowned for its laid-back attitude, and for your retirement years there is certainly no shortage of things to do.

The city is breathtakingly beautiful and retirement in Cape Town means you have the time to enjoy a host of wonderful activities, sights and sounds. It is packed full of history, style, adventure and creativity.

Cape Town’s natural splendour is evident at every corner of its streets that wrap and wind themselves around the iconic mountain. Throw in a few white sandy Blue Flag status beaches, some outstanding vineyards, forests, wildlife and one of the finest botanical gardens on the planet, and you’ll start to discover why it deserves its place in the limelight.

It is a city that combines it all; you won’t be bored there. Cape Town is THAT much of a good-looking, fun-loving, sporty, sociable, stylish, hard-working, culture-worshipping, hospitable city! South Africa continues to offer potential retirees the high quality lifestyle, value for money, and climate that they’re looking for, and thus it comes as no surprise that there’s been an increase in the number of retirees settling in the rainbow nation.

A growing economy

Cape Town is South Africa’s second-richest city, in terms of gross domestic product (GDP) per capita, after Johannesburg. As the province’s economic hub, it produces 10.58% of South Africa’s GDP & accounts for 71.10% of the Western Cape’s economic activity. The majority of the city’s economic activity is driven by small, medium, and micro enterprises (SMMEs). According to the Department of Trade and Industry’s Companies and Intellectual Property Registration Office, approximately 75% of its businesses can be classified as such. Furthermore, SMMEs account for 50% of the city’s output. Other economic drivers include:

 Finance, insurance, real estate and business services and business services
 Manufacturing
 Wholesale and retail trade, catering and accommodation

Although manufacturing and agricultural activities are important to the local economy, Cape Town is a service-based metropolitan economy.

Why Cape Town’s economy is upwardly mobile

Cape Town’s position as the Western Cape’s economic growth engine can be attributed to five main factors:

1. An increasingly young population, which has boosted the domestic demand for goods and services.
2. A relatively low rate of unemployment.
3. Cape Town is one of the top destinations for investment and foreign direct investment in the country and the province.
4. The city has increased the size of the market for its products by targeting international markets.
5. On average, residents of Cape Town have access to the country’s best health, education and housing services.

Top Attractions in the Mother City

Table Mountain & Cableway: One of the New Seven Natural Wonders of the World, ascend via the cable car or hike your way up one of the many routes.
Robben Island: A symbol of the triumph of human spirit – today it is a World Heritage Site (1999) & museum. Robben Island is famous for being “home” to one of South Africa’s most famous political prisoners, Nelson Rolihlahla Mandela (aka Madiba).

Cape Point: The south-western tip of Africa has captivated travellers for centuries with its dramatic scenery & fascinating history. Rugged coastline, wildlife, flora, the Flying Dutchman funicular, Two Oceans Restaurant, & shops make Cape Point one of the top Cape Town attractions.

Outdoor Lifestyle: Cape Town offers a dream lifestyle for outdoor enthusiasts – from sea to earth to sky! You can jump out of a plane, (or off a mountain). You can surf, dive, walk, run, hike, cycle and more. Cape Town also boasts a great sporting culture, & major international sporting events visit the city regularly.

Arts & Culture: Artists and creative souls will fall in love with the galleries and the colourful streets. Inner city design and decor shops abound in the booming cosmopolitan city & the surrounding suburbs that embrace poets, artists, authors & actors. The theatre and dance scene is vibrant – embracing a cross-section of cultures.

The Artscape Theatre brings you the highest level of artistic excellence in all aspects of performing arts for more than four decades! All this success is attributed to the combination of world-class productions, high tech sets, and locally-made period and modern costumes which make Artscape Theatre stand out as an iconic cultural beacon in the Western Cape.

Food & Wine: Food and wine lovers are almost obliged to make a pilgrimage to Cape Town which offers some of the finest wines on the globe in partnership with superb restaurants. Foodies are spoilt for choice when it comes to dining – and all in spectacular settings.

retiring-in-Cape-Town-Carrick

We can recommend a few of our favorite restaurants.

The Test Kitchen in Woodstock is owned by Chef Luke Dale-Roberts and is the very deserving winner of South African’s Restaurant of the Year award for the third time in a row.

If you want a tender, melt in your mouth steak then book a table at Nelson’s Eye. This steakhouse has been in existence since the early sixties and they pride themselves on producing outstanding steaks.

“We at Beluga love what we do!” that is the tagline for Beluga where you will find some of the best sushi dishes on offer. Beluga’s signature dessert is White Chocolate Beignets which consist of Lindt white chocolate beignets vanilla bean ice cream smothered in a rich butterscotch sauce. It’s a decadent way to finish off your dinner.

Should you want something fishy then the Codfather in Camps Bay comes highly recommended. They offer an amazing extravaganza of fresh fish, delectable shellfish and scrumptious, innovative sushi, plus they are dedicated to serving sustainable seafood.

People: Citizens of Cape Town proudly welcome and host their guests – be they families, romantic couples or singles. Visitors are welcomed regardless of whether they are visiting for business or leisure.

Summary:

In terms of value for money Cape Town has it all. If you are looking to retire in the vibey city centre, the quiet vineyards, a lavish beach house or tucked away in a mountain range, Cape Town is the city of choice!

Post Categories: Financial News

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