Stats SA’s long-run review shows South Africa’s youth cohort has grown to about 21.6 million since 1996 (+38.6%), with older youth expanding fastest and migration concentrating in urban provinces, notably Gauteng. Access to basic services and educational attainment improved over the period, even as school attendance has slipped.
The labour market remains the outlier: youth unemployment is still elevated, with female youth joblessness at 49.4% in 2024. That combination shapes household formation and spending power, and feeds safety concerns and social pressures.
For investors, a larger, more urban youth base underpins demand for entry-level housing, commuter transport, data and low-price retail, along with training and skills services—especially in Gauteng. But persistent unemployment and safety concerns lift security and credit risks and could influence policy responses and wage dynamics.
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