The latest MyState Tasmanian Economic Update confirms Tasmania’s economy is booming.
The MyState Report notes that the Tasmanian economy “has experienced a strong start to the year, with the majority of indicators supporting economic growth”.
The report confirms Tasmania’s State Final Demand reached an all-time high for the December 2017 quarter thanks to four consecutive quarters of strong household consumption growth.
This is a key indicator of economic growth and confirms our economy is going from strength to strength, with more jobs being created as a result.
Since the 2014 election more than 11,000 jobs have been created, and Tasmanian businesses remain among the most confident in the nation.
Tasmania is also leading the nation in international tourism numbers, with the report noting international visitor numbers have grown by 18 per cent. Even better, these visitors “collectively stayed 39 per cent more nights and spent just under half a billion dollars (up 32%) during their stays.”
Other highlights from the report include a 36 per cent rise in exports, well above the national average of 10 per cent, and wages in Tasmania growing by 2.3 per cent, again above the national average in the year to March 2018.
The Hodgman Liberal Government is continuing to put the right economic framework in place to encourage job creation and investment and this latest report confirms our plan is delivering for Tasmanians.