Queensland Economy Continues to Grows by 10%
- August 6, 2017
- Posted by: wpgroup
- Category: Economics
Our previous commentary on the projected Queensland economy, has now been confirmed by Deloitte Consulting. Here are some of their findings based on consultation with more than 6000 stakeholders.
- The QLD ECONOMY IS 10% LARGER
- $54 BILLION ADDITIONAL GROSS STATE PRODUCT
- 230,000 ADDITIONAL JOBS
- 300,000 MORE PEOPLE ARRIVING IN QUEENSLAND
- $27 BILLION GROWTH IN REGIONS
- 70% OF POPULATION IN SOUTH EAST
- REDUCED UNEMPLOYMENT
- DIVERSE ECONOMY DRIVEN BY TOURISM AGRICULTURE AND NATIONAL RESOURCES
- $14.8 BILLION IN EXPORTS
Taking into account the lifestyle and climate enjoyed by Queenslanders, this data paints a bright future for the state and has been articulated by the Wells-Peris Group for quite some time. The drive for Small Business is a high priority for this Government and is well supported by the programs in place. Venture capital for large projects and start-up businesses is another avenue being supported by the Government. There is every good reason these numbers will be exceeded judging by the activity that has already commenced such as the infrastructure development in the south east and northern Queensland.
Queensland is well positioned with an abundance of natural resources for agriculture, tourism as well as opportunities within renewable energy seen in the recent announcement of electric cars and pumping stations around the state . These investment opportunities will be the engine room of the Australian economy in the years to come as it does not have to rely on a single industry. Investments in renewable energy is well ahead of the other states, property is at the correct level besides several other positive dynamics that is also making it attractive for professionals making the move from the southern states and will subsequently generate capital inflows from overseas.
The Wells-Peris Group is well positioned to assist with any investment, structured finance or venture capital projects