SA better placed than Europe in post-recession environment

South Africa will find itself far better placed than many European countries in the post-recession global environment. This is according to respected strategist and scenario planner, Clem Sunter, who describes as ‘extremely scary’ the current situation plaguing Europe where the drop of the euro continues to see countries having to be bailed out. “We live in a world that is constantly evolving, and yet within this evolution history seems intent on repeating itself,” says Sunter. “South Africa is in a much better position than many other countries for various reasons – the first being the fact that we had a much shallower recession and secondly that our banking system, ranked sixth in the world, made some good decisions prior to the financial crisis.” He says despite some negativity about the positive benefits for South Africa of the 2010 Fifa World Cup, the biggest sporting event has impacted positively on the country. “Not only have we seen major infrastructure investment take place, but we have also had the opportunity to promote the country as a tourist destination. And although fewer people will attend the event than expected, more people know about the country and billions of people are going to be following this tournament on television and will therefore be exposed to South Africa.” While South Africa continues to face political turmoil, the country is relatively stable in his view, offering developing economies such as China and India a direct entry into Africa. “We remain the gateway to Africa and therefore continue to attract business and offer our companies opportunities. “It is however important that every business in South Africa in every sector continues to strategise and look at the future and plan accordingly. Don’t wait for the environment to change and then try and react – always be prepared.”