RDACWQ Economic Update Q4 2022/2023
The December edition of the Central and Western Queensland economic quarterly update reinforces the strength and diversity of the region especially during a time where there are emerging concerns about the health of the national economy (especially with regards to inflation, interest rates and property prices).
As inflation and interest rates continued to increase throughout the December quarter, the property market in Central and Western Queensland continues to perform well, particularly when compared to the major capital cities.
Unemployment continues to decrease, job vacancies remain high and tourism visitation has seen a major increase over the Christmas period.
The update reinforces the need of further investment into the Central and Western Queensland region. While the region has continued to grow throughout the COVID-19 pandemic, there is so much more that the region can contribute to our national wealth by both growing existing industries and pursuing diversification opportunities, with the right infrastructure.