NSW and Victoria to benefit most after resources wave
New South Wales and Victoria are expected to outperform the rest of the nation over the next 20 years, a new private sector report predicts.
Chris Richardson from Australian Deloitte Access Economics said that while mining will continue to be the major driver of prosperity over the next 20 years new opportunities for export-led growth will come from different directions.
“These sectors hold out not only the promise of new wave of growth – they offer us a way to diversify beyond mining’s boom and bust,” he said.
“It’s all about catching the next wave. Mining will continue as a major driver of our prosperity. But that boom is slowing and our competitive advantage is being challenged. We need another wave – or several – to create more diversified growth.”