Business Report writes that one of the findings of recent research is that about four million people in South Africa are dependant on the motor industry.
The research into the economic and socio-economic impact of the industry was conducted by Econometrix for the National Association of Automobile Manufacturers of SA (Naamsa). The report highlighted the vital and enormous contribution the industry has made to SA’s economy. In 2015, the industry employed 443,219 people directly in the formal and informal sector in 2015, but that did not take into account the large number of jobs created in industries that were dependant on the automotive industry. The impact model showed that the industry supported more than 925,000 employees in the formal economy, which could be multiplied by four to take account of all the dependants supported by the industry. In 2015, it contributed an estimated R55.9 billion or 3% of total compensation of employees.
- Read this report by Roy Cokayne in full at Business Report
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