Regional Australia has been experiencing a great boom with the constant economic growth of regional cities like Wagga Wagga. Home to more than 64,000 people, Wagga Wagga is considered as one of the largest cities in New South Wales. The city supports local residents, a wide network of surrounding suburbs and rural areas.
There is no denying the fact that Wagga Wagga is the perfect blend of a well-established city and regional living- thanks to the high-end infrastructure facilities, strong commercial market and growing economic sector. The city offers some of the great features such as best schools, top-class hospitals, financial institutes, restaurants, cafes, pubs, expansive parks, green spaces, spacious dwellings and various tourist destinations.
Economic Growth of Wagga Wagga
The Gross Regional Products (GRP) of Wagga Wagga City was $3.85 billion in 2019 – representing 0.7 % of the NSW’s Gross State Product. It is one of the rapidly growing commercial hubs in New South Wales, which is contributing a great share in the NSW’s economic sector.
The city is home to national as well as international companies, local business, renowned industries, banks, leading brands, and much more. The economy of the city is classified into major industries, including tourism, retail, defence, agriculture, health, education, manufacturing, etc.
There are various regional industries such as Bridgestone Tyres and Royans Transport. This makes it a perfect place for aspiring business owners and property investors. In fact the local government is favouring the development of regional cities such as Sydney, Wagga Wagga, etc across New South Wales.
The state government is leveraging the benefits of economic and cultural growth and encouraging potential business owners to invest in these regional cities. The best part is that you can explore various business opportunities in Sydney, NSW. You can also find your choice of business in the heart of Wagga Wagga as the local government is supporting local as well as novice entrepreneurs to increase the regional capital.
The Wagga Wagga City Council is also looking forward to working with the Senate Enquiry Committee to play a vital role in the contribution of regional capitals to Australia. The committee is encouraging people all around Australia to visit this beautiful city and buy residential properties in the hotspots of New South Wales.
Economic Vision for Regional NSW
The state government’s 20-Year Economic Vision is making its way to ensure that Regional NSW will continue to be an eclectic and growing part of the economy. The government is encouraging people to live in the regions and that’s why they are developing high-end amenities, affordable housing options, public and private schools, hospitals and other medical facilities.
The 20-year economic will allow regional NSW to take benefits of future opportunities for capital growth. The main goal is to provide high-class facilities to the regional people and local businesses. The government of New South Wales has also introduced some thriving opportunities to let people live a quality and relaxed lifestyle in the regional cities like Sydney and Wagga Wagga. They are supporting thriving and sustainable regional communities that have a stable local identity and attract potential entrepreneurs and younger generations.
With the constant development of these cities, Regional NSW has become a great place to live, run or start a business, raise a family or visit. It is a perfect city to live along with kids as there are various primary and secondary schools and well-renowned universities.
The regional communities are getting support for the local government and drawing more investment in the residential as well as commercial sector. The goal is to let local communities have seamless access to the cultural and sporting facilities, without compromising a sense of connectedness.
With the strategic investment, the government can identify the regional issues such as skill shortages, digital disruption and the ageing workforce. The vision is to boost the economic growth in major sectors such as health care, tourism, agribusiness, educational, manufacturing and retail to make sure regional NSW continues to play a vital role in boosting the Australian economy.
Conclusion
Wagga Wagga is a vibrant city which has multicultural communities, rich history and well-maintained heritage buildings. It is perfect mix of well-established city and regional living. This will not only accelerate the overall economy of NSW but also play a crucial role in stabilising the economic sector of Australia.
