Investing in regional cities’ economic performance makes good sense. Contrary to popular opinion, new research out today shows regional cities generate national economic growth and jobs at the same rate as big metropolitan cities. They are worthy of economic investment in their own right – not just on social and equity grounds.
However, for regional cities to capture their potential A$378 billion output to 2031, immediate action is needed. Success will see regional cities in 2031 produce twice as much as all the new economy industries produce in today’s metropolitan cities.
Drawing on lessons from the UK, the collaborative work by the Regional Australia Instituteand the UK Centre for Cities spotlights criteria and data all Australian cities can use to help get themselves investment-ready.