The Budget I delivered this week shows Canberra’s economy is now among the strongest in the country. We have seen growth of 13.6 per cent over the past three years as we continue to diversify our economic base.
Our strong economic growth saw the creation of around 10,000 new jobs last year – almost all of them full time.
There are over 2,000 more businesses operating in Canberra today than three years ago. And our companies are doing more international business, with the ACT’s services exports rising by 22 per cent since 2015.
The 2018 Budget forecasts continued strong growth in jobs and economic activity in the years ahead.
Our international education sector expanded by 24 per cent last year and the prospects for further growth are strong as providers like UNSW explore expansion.
With more international airlines flying to Canberra, and our city being recognised internationally as one of Lonely Planet’s top cities to visit, the outlook for our tourism sector is also very positive.
And we expect to see more jobs created in a range of knowledge-based industries. Our professional, scientific and technical services sector grew by almost 36 per cent last year, showing that Canberra’s local innovation companies are also thriving.
The Budget shows our economy is growing and the prospects are bright.