Mandurah will enjoy continuing economic growth at around 4.8 per cent per annum but it faces the challenge of stimulating local businesses to drive job creation according to reports from the Regional Australia Institute (RAI) which document the recent performance of Australia’s small cities.
While no two cities have the same strengths and capabilities, regional cities fall into four economic performance groups (gaining, expanding, slipping, slow and steady).
Mandurah is identified as a gaining city, just like Bundaberg, Darwin, Bunbury, Fraser Coast and Sunshine Coast-Noosa.
Mandurah experienced the highest population growth rate of 4.2 per cent per annum from 2001-2013.
With an economic structure reflecting little in the way of ‘old economy’, and instead showing strong foundations in healthcare, construction and retail, it is building its economy around servicing the growing population.
RAI’s forecasts for Mandurah’s economic output growth are among the highest of all regional cities – 4.8 per cent per annum.
According the RAI reports, the challenge for Mandurah is deepening its share and economic contribution from locally-based jobs by moving away from the reliance on FIFO incomes.
“Analysis shows Australia can increase the economic performance of its great small cities by 65 per cent by 2031, adding $378 billion in output annually to the national economy – if we get small city policy right,” RAI chief executive Jack Archer said.
“Putting this output in today’s terms, regional cities in 2031 will produce twice as much as all the new economy industries produce in today’s metropolitan cities.”
The new RAI reports demonstrate regional cities like Mandurah have had better economic performance than Australia’s big five major metropolitan cities and should not be regarded as “a poor cousin”.
In terms of historical output, productivity and participation rate, there is no statistical difference between the economic performance of Australia’s 31 regional cities and the major metros.
