Townsville beats Brisbane on economic fundamentals, says new RAI Insight database

Townsville Mayor Jenny Hill will be pleased the Regional Australia Institute has ranked Townsville very highly on economic fundamentals in its new Insight database, as it supports the Council’s case for investing in the region that will be expressed in its Economic Development Plan 2013-17, also to be released today (see Townsville Bulletin coverage). An Insight database query shows Townsville is ranked 28th out of 560 local government areas across Australia on economic fundamentals (one of nine themes of regional competitiveness in the database), compared with Brisbane at 56th – also a good result, really. In large part, Townsville’s superior performance appears due to the value of building approvals per capita, which is certainly a reasonable indication of a region’s prospects, though it would be good to see a wider set of factors determining the economic fundamentals ranking in the future than the current set.

From a quick glance at RAI’s heat map of Australia, it appears Queensland has a relatively low share of highly competitive and most competitive regions, adding further urgency to the State Government’s economic reform agenda.

RAI-INsight-Heatmap-National

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