Population growth driving WA’s economy
February 11, 2020
WA’s economy is being powered by people as the state experiences positive population growth closing the gap between WA and the national average.
The following factors are all contributing to the upswing and the slow but gradual strengthening of the economy:
- Migrant numbers are increasing.
- The number of residents leaving the state for other parts of Australia is decreasing.
- The jobs market is gaining momentum driven by the resources, finance and professional sectors.
- The unemployment rate has dropped.
- Regional domestic tourism continues to grow with a 9.6% rise from interstate tourists visiting WA.
- Iron ore prices are gaining strength.
This is a summary of the article ‘WA gets a move on, The State’s people power’ by Stuart McKinnon | Published in the West Australian | Monday, January 20, 2020 | Page 9.
Read Our Other Articles
AUSTRALIA HITS GOLD PRODUCTION MILESTONE
Australia’s gold production hit a record high milestone producing 328 tonnes in the first six months of this year...
PM to slash red tape and accelerate WA projects
The Prime Minister’s plan to slash red tape and drive several road, rail and iron ore projects has been...
PERTH RENTAL MARKET UPDATE
Perth’s rental market remains incredibly competitive as we enter the second quarter of 2022.
New home sales figures on the rise
A second consecutive month of increased new homes sales has given a big confidence boost to Australia’s property sector with...
INTEREST RATES SLASHED TO RECORD LOW
The Reserve Bank of Australia have cut interest rates to a record low of 0.10% – a dramatic shift...
Investors embracing Perth’s potential growth
More than 60% of investors believe that Perth has the highest growth potential of any market in Australia over...
Hamilton Hill Slab is Down
We here at Griffin are very excited to see the first concrete slab being layed down on our Hamilton...
WHY ITS TIME FOR OUR CITY TO GROW IN NOT OUT
It is no secret that Perth has taken its time to adopt apartment living as a viable alternative to...
Kings Park ranked by Vogue as one of the world’s top parks
Vogue magazine ranked Kings Park as one of the world’s greatest city parks, placing Perth among famous destinations...
Construction Update
It is exciting times at Griffin as several of our projects move into the construction phase over the coming...