Economy
Gauteng is considered the economic hub of South Africa and contributes heavily in the financial, manufacturing, transport, technology, and telecommunications sectors, among others. It also plays host to a large number of overseas companies requiring a commercial base in and gateway to Africa.
Although Gauteng is the smallest of South Africa's nine provinces—it covers a mere 1.4% of the country's total land area—the province is responsible for a third of South Africa's gross domestic product (GDP). Gauteng generates about 10% of the total GDP of sub-Saharan Africa and about 7% of total African GDP.
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Famous quotes containing the word economy:
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
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“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)