The global recession has hit some countries hard. While we are not immune to the effects of the economic downturn, we're not suffering quite as badly as some. There are many reasons.
One reason is we have a stable banking system. There are acts in place to protect us from borrowing money we cant afford to repay. We have been lucky that our banks have not collapsed as has occurred in some parts of the world.
We are a mineral rich region. South Africa exports a variety of produce from gold, diamonds and minerals to wine, fruit and vegetables.
Another reason is that we are an emerging economy and the standard of living for many is still not as high as some parts of the world.
Our currency also makes us an excellent value destination for tourists and shoppers. Tourism is a major source of revenue here. Visitors can experience a safari holiday with game, a sun and powder beach holiday or a wine farm and gourmet food meander. Scenic drives taking in regions such as Route 62 or the Garden Route provide visitors with a chance to experience breathtaking natural beauty and our warm hospitality.
Labels: banking, exports, laws to protect consumer, recession, South Africa, standard of living