The future is looking bright for Queensland. According to a Deloitte report called Confidently Queensland, the region could be worth $54 billion by 2027. Around that time, the highly diversified industries will create more than 230,000 new jobs while the population will grow to 300,000 more.
To get there, however, the report cited three important components: livable communities, inclusive growth, and diversified economy. Firms that provide Townsville conveyancing services have these to say on the matter.
Queensland hopes to bring in more productive migrants into the region. Not only are they highly skilled, but they are also young. The growth, meanwhile, may still be decentralised, which means many of them will not be living in the capital.
In fact, based on the data by Queensland Treasury, Brisbane will grow at an annual rate of only 1.1 percent, which is lower than the state average. The Sunshine Coast, on the other hand, may increase over 2 percent annually. This trend may continue within the next two decades.
The region already has one of the most diversified economies in the country, which also helps avoid overcrowding the state capital. It is just a matter of boosting some key industries. These include tourism, agriculture, and energy.
One of the current strategies is to attract Chinese tourists who not only travel in groups but also spend a lot of money. To do this, the government is strengthening its ties with China by easing visa policies and providing more flights, to name a few.
Under the all-inclusive growth component, Queensland foresees a more diversified workforce – that is, there are plenty and equal opportunities for the young, unemployed, foreign migrants, aborigines, Torres Strait Islanders, and people with disabilities.
It hopes to meet the targets for the Closing the Gap Initiative, which includes reducing the mortality rate for children five years and below by half in 2018.
Meeting the goals does come with challenges, but with the way things are going, Queensland is poised to achieving its objectives. For those who want to participate in its growth, now is the right time to start investing in properties.