Population to grow in state

Talking up the Sunshine State’s enviable lifestyle could lead to a more productive economy that is 10 per cent bigger than previously predicted, according to a new report. That would equate to an extra $54 billion in the economy and 230,000 new jobs. The growth over 10 years would be driven by the yearly arrival of 30,000 people.

TALKING UP the Sunshine State’s enviable lifestyle could lead to a more productive economy that is 10 per cent bigger than previously predicted.

That would equate to an extra $54 billion in the economy and 230,000 new jobs.

The growth over 10 years would be driven by the yearly arrival of 30,000 people from overseas and interstate.

Deloitte’s Confidently Queensland report, to be released today, offers a blueprint to suc- cess for the state over the next decade.

It argues that attracting new arrivals, diversifying the economy and sharing the dividends of economic growth across the state is the key to a better future for Queensland than current forecasts.

But if business, government and the community do not work to create it, Queensland will struggle to compete with a changing global economy, Deloitte warns.

Thousands of Queenslanders surveyed for the report and resoundingly said Queensland was a “lifestyle state”.

“Queenslanders value the livability of our communities,” the report says. “It is the bedrock of not just our society but our economy.”

In the early 1990s, 50,000 more people were arriving in Queensland than leaving each year. The report’s co-author, Dr Ric Simes, says that number has dropped to below 10,000 but is rising.

“But to keep it there, Queensland industries that are fundamental to the economy today, such as agriculture, tourism and natural resources, need to move up the value chain and be more productive for the economy,” he says.

The Deloitte report sets a net-migration target of 30,000 a year by 2027, with newcomers to be spread throughout the state. Ideally, southeast Queensland’s share of the population would stabilise at 70 per cent.

Deloitte Queensland Managing Partner John Greig said the report was based on consultation with a wide range of stakeholders, a survey of 6000 people and existing research and data.

“We determined that Queensland has the potential to be even better than it is today and even greater than current forecasts suggest,” he said.

The report says the main trends influencing the growth will be emerging markets, digital disruption, increased urbanisation, environmental challenges and demographic change.

The growing middle class in Asian countries, including China, is also highlighted as a key economic opportunity for Australia over the next decade.