This is the wealthiest city in South Africa
The city is also in the richest province...
The Stats SA Income and Expenditure of Households report measures South Africans' earnings and spending habits.
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According to the 2023 report, the Western Cape's citizens are the richest, earning the highest average income and spending the highest on household expenditures.
Western Cape households spend an average of R229,363 annually, more than double the average spent in SA.
Gauteng is second with a spending average of R170,628 and the province, which is SA's most populated, had the largest share of total household consumption expenditure.
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BusinessTech writes that the two provinces comprise half of the country's household expenditure.
The average household income in the Western Cape was also the highest at R356,651 and R250,646 in Gauteng.
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With the Western Cape being so high above the national average, it is no surprise that the City of Cape Town is also the wealthiest metro in the country.
See the chart below for the comprehensive list:
The City of Cape Town, with an average of R387,881 and a median of R169,599, had the highest average and median household income compared to the other metropolitan areas.
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According to BusinessTech, the city also had the highest average and median household consumption expenditure, with an average of R248,538 and a median of R140,523.
The Western Cape also spends the highest average amount on beverages, food, tobacco, and narcotics, at R32,959, and similarly spends more on health, transport, furnishing and household maintenance, utilities, and housing.
Johannesburg is home to the most millionaires in Africa, but many have moved outside the city's boundaries over the last decade.
Many have moved to the Western Cape, especially the coastal areas.
Expenditures also experienced a negative real growth rate between 2015 and 2023. Spending in the Western Cape decreased by 6,4%.
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Main image courtesy of iStock