Treasurer
Minister for Local Government
Minister for State Growth
Liberal Member for Bass

Deloitte report underlines strength in Tasmania’s economy
 

23 October 2018

Tasmania is now a better place to live than ever before and today’s Deloitte Access Economics September 2018 Business Outlook report once again identifies the strong performance of the Tasmanian economy.

The report found Tasmania’s business conditions lead the nation and confidence is high, saying;

“Tasmanian business conditions rank the highest in the nation, and that robust confidence has flowed through to the slightly faster growth in prices and wages relative to the rest of the nation.”

Forecasts show Tasmania’s employment is set to continue to rise, unemployment to reduce further to 5.8 per cent and Gross State Product is set to grow this year by 2.6 per cent;

“The great Tasmanian economic renaissance continues to benefit from strong domestic conditions, maintaining the State’s solid growth prospects relative to the past decade.”

“Education and tourism continue to be an important part of our Tasmania’s growth story, as more and more foreigners see the State as a must do on their bucket lists for visiting.”

The report highlighted the growing level of investments being made in Tasmania with $1.8 billion dollars in projects currently under construction, and a further $2.8 billion in the planning stages, with strong local conditions;

“…supporting investment in new capacity. Spending on plant and equipment is well above decade averages, and is currently at a historic high.”

Deloitte also said Tasmania’s strong population growth rate as, “the best that they’ve been in almost a decade”.

Tasmania has come a long way over the past four years but we know there is more work to be done.

The Hodgman Liberal Government is committed to delivering on our Plan for a strong economy which allows for even more investment in the infrastructure and services our growing state needs.