An analysis of the business services sector in the Western Cape
The aim of this paper is to analyse the business services sector in the Western Cape, particularly the sector’s contribution to output, employment and investment. The province’s business services sector accounts for more than one-fifth of total gross value added. The sector experienced an average growth rate of 3.50% per annum between 1994 and 2023. Moreover, employment in the sector increased by 3.04% annually over the same period. The empirical results from the ordinary least squares regression show that a one percentage point increase in business services increases output growth by approximately 0.33 percentage points.
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