Prospects and challenges for the Hunter region
Deloitte Access Economics
Australia’s largest regional economy, which produces 80% of NSW’s electricity and 40% of the state’s coal resources, is forecast to continue to boost incomes and living standards on Australia’s East Coast.
According to the Deloitte Access Economics report Prospects and challenges for the Hunter Region – a strategic economic study, the region will achieve a growth of almost 75% over the next 20 years by harnessing the demand from Asia for resources and services, the digital economy and changing settlement patterns, while transitioning to a less carbon intensive economy.
Commissioned by Regional Development Australia Hunter, one of a national network of 55 committees made up of local leaders who work with government, business and community groups to support the development of their regions, the change will be at least as profound as from the micro-economic reforms of the past.
The prospects and challenges in the Hunter Region parallel those confronting Australia’s national economy as a whole, with its significant exposure to resources, agriculture, energy production, and defence, with service industries, such as education, health and tourism.