This study develops a Regional Resilience Monitor (RRM) which will enable the measurement of changes over time in a number of key dimensions for the well-being of regional Australia. Resilience is defined as the capacity of a local community to respond to, and anticipate economic, social and environmental change and to adapt, plan and transform itself for the future. Regional Resilience – in terms of health and well-being, productivity and economic growth, managing risk, and capturing opportunities for sustainable environments and human systems – has been identified as a key strategic priority for Australia, as it has been for a number of other countries.
The RRM is made up of six interlocking elements that, together, form a holistic tool and provide a composite measure. These elements are:
1. Economic Health
2. Human Capital
3. Social Well-being
6. Social Capital and Social Networks
The first four elements can be measured using existing data and we identify those data sources. Elements 5 and 6 can be measured using a combination of existing data and, respectively, a newly developed regional entrepreneurship survey and a newly conceived social network analysis.
The RRM was developed in, and for, the Latrobe Valley and the wider Gippsland region but can be ‘rolled out’ across regional Victoria as a whole and across regional Australia.