Not all wealth finds its way to global capitals or glittering coastlines. Increasingly, lifestyle destinations, like those in the Western Cape, offer places that combine natural beauty with cultural depth, and are becoming the new frontiers of prosperity.
One South African region, better known for its rolling vineyards and historic towns, is now standing out as one of Africa’s fastest-growing millionaire enclaves.
The region, in the Western Cape, is currently home to 3 800 millionaires, and is the fourth fastest growing millionaire hotspot in Africa.
Millionaires flock to the Cape Winelands
According to the latest Africa Wealth Report by Henley & Partners and New World Wealth, the Cape Winelands region has seen a 42% surge in millionaires over the past decade, outpacing most of the continent.
It now ranks among the Top 5 fastest-growing wealth hubs, alongside Mauritius’s Black River district, Marrakech, the Whale Coast, and Cape Town.
Home to Stellenbosch, Franschhoek, and Paarl, and long celebrated for wine estates, fine dining, and scenic valleys, the area is increasingly appealing to high-net-worth individuals seeking more than just a holiday destination.
Retirees and second-home buyers are arriving in growing numbers, drawn by its balance of world-class lifestyle, strong educational institutions, and proximity to Cape Town.
Researcher Andrew Amoils of New World Wealth points out that lifestyle destinations such as the Cape Winelands are likely to lead Africa’s future millionaire growth, driven by industries like eco-tourism, green tech, fintech, and healthcare.
With traditional global wealth havens in Europe becoming less attractive, African regions that offer both lifestyle and opportunity are stepping into the spotlight.
Have you visited this beautiful wine region in South Africa?
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