The South African city of George has been recognized as one of the country's most suitable business destinations for entrepreneurs aiming to grow their businesses in the low crime rate area.
According to Business Tech, George City's massive development last year surprised many economists. The city's domestic airport saw a growth rate of 70 percent year-on-year in 2018, prompting businesspeople to explore possibilities in the area.
Flight Centre Business Travel (FCBT) Team Leader Andrew Grunewald said George City gained momentum due to its "ideal location and low crime rate." Corporate analysts noted that many entrepreneurs prefer locations with reduced possibilities of theft and other related crimes.
George City has overtaken the popular Cape Town in quality of living due to cultural and corporate highlights within the city that many businessmen want to experience. The city offers business opportunities in various sectors that analysts said have helped entice South African entrepreneurs.
Due to increased travels among businessmen, agencies and organizations have been recording routes of traveling entrepreneurs in South Africa to have a better understanding of which factors play in certain locations that businesspeople frequent.
Aside from South Africa's George City, Lanseria and Kimberley also recorded high numbers in business-related travels. Lanseria is expected to keep growing as the local airport announced that it is looking to increase passenger traffic over the next six years.
Kimberley, on the other hand, has been recognized as one of Africa's best airports. Experts said one of the major drivers for business development in the town is the local government's advocacies on renewable energy.
IHS Markit revealed in its latest Purchasing Manager's Index (PMI) that South Africa's business activity saw small improvements last month. In March, the index stood at 48.8 and reached 50.3 in April, indicating developments in the country's business sector.
While some suppliers had to lower prices last month due to weak demand, business analysts are hopeful of a potential rebound after the highly-anticipated election wraps up this month.
South Africa's entrepreneurs increased production and other activities last month as load shedding was reduced around the country, IHS Markit economist, David Owen, said of the improvements.
Owen's statements echoed confirmations that South Africa's business confidence soared in April as entrepreneurs in the country hope for a better business environment following the election.
Reuters reported that the South African Chamber of Commerce and Industry's (SACCI) confidence index reached 93.7 in April, compared to 91.8 in March. The organization said electoral campaigns focusing on more jobs and economic developments played well in markets.
South Africa opened voting stations on Wednesday, May 8.
