South African visas attractive as economy stands up to recession

August 11 2009 by Mark Johnstone

Cape Town, South African immigration hotspot

Moving to South Africa has become increasingly attractive in light of the fact that its economy has been relatively untouched by the recent economic downturn.

Dale Lippstreu, an analyst from Maitland’s Fund Services business, says the country has benefited from having conservative treasury and reserve policies. He says, “South Africa was largely spared the direct effects of the credit crisis thanks to exchange controls and a stringent regulatory regime.”

South Africa has become a good place to invest and make money, claims Lippstreu. As a result, more and more people want to live and work in South Africa and are applying for South African visas to allow them to do so.

Mark Kerns from Standard Bank Investment Services adds that the country’s recent major investments in infrastructure have also helped it to weather the economic storm, enabling it to remain strong in the face of global recession. South Africa had low exposure to the kinds of variables that caused the credit crisis in the first place, explains Lippstreu.

Kerns says that although the South Africa economy has suffered slightly, there are good signs of recovery, with GDP growth in 2010 and 2011 set to increase to 2.8 per cent and 3.5 per cent respectively.

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