Ten ways Perth can capitalise on its boom-time legacy and continue to grow and proposer

27 July 

There are 10 ways Perth can leverage its boom time legacy according to a PwC report released today, but its most critical task is attracting and retaining new citizens to the city.

The report, “If you build, it will they stay: Capitalising on Perth’s boom-time legacy,” shows that whilst domestic arrivals into Perth have slowed, the number of overseas arrivals remains strong and new migrants want to stay and build a future.

PwC Managing Partner Justin Carroll said that one of the most important ingredients for a city to prosper is strong population growth and Perth needs to find new ways to continue to attract and retain citizens.

“We want the future of Perth to be vibrant, productive, inclusive and diverse and now that we have moved into the production phase of the mining boom we must find new ways to attract more people to our amazing city and keep them here,” Mr Carroll said.

“The legacy of the boom means that Perth is not the same city it was ten years ago and it has been revitalised with new world class facilities. We must build on this to ensure Perth is an even better city to live, work and play.

“To further flourish Perth needs to continue to diversify its economy beyond the resources sector, capitalise on its proximity to Asia and its time zone, and embrace Perth’s culture of scientific and technical innovation to become a global research hub.

“If Perth maximises its opportunities in industry, invests in infrastructure and placemaking for residents and tourists and takes much needed steps to reduce regulation, it can continue to grow and prosper beyond the boom and bust resources cycles,” Mr Carroll concluded.

The 10 recommendations to help Perth attract more talent and investment into the future are:

  • Create precincts that focus on the medical and education sector
  • Connect Perth’s beaches to a broader choice of public transport
  • Identify opportunities to cut red tape that stifles investment and growth
  • Engage with the private sector to regenerate Fremantle and develop a new international cruise terminal with surrounding commercial and mixed use developments
  • Slash the number of local councils to reduce duplication and encourage big picture planning
  • Phase out inefficient state taxes such as stamp duty in favour of taxes with lower economic costs (like land tax).
  • Develop a WA Discovery Centre to give tourists a virtual and augmented reality experience that showcase the state’s diversity
  • De-regulate retail trading hours, at least in the Perth city centre
  • Encourage market led proposals to funding infrastructure investments
  • Attract a major world class event (such as a Commonwealth Games) to showcase Perth and stimulate further infrastructure investment

To read the report please visit: http://pwc.to/2h1ZNxX

 

 

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

© 2017 PwC. All rights reserved.

Contact us

Kristen Cusack
Corporate Affairs Senior Manager
Tel: +61 2 8266 1648
Mobile: +61 422 799 830
Email

Follow PwC Australia