Feature Article - Counting down to B4 launch

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It’s hard to believe that we’re already 18 months into our Bigger and Better Beyond the Boom research project and the timer is ticking down until we launch the final report on October 23. At our recent Annual Chairman’s Luncheon we presented a summary of the research we’ve carried out so far as part of B4, what the key findings were, the challenges and opportunities we face, and where to from here. 

As part of our extensive research for B4, we have produced six FACTBase Bulletins, two special FACTBase reports and conducted a post-boom sentiment survey. 

Some of our key findings are:

  • Greater Perth’s economy is more diverse and resilient than it’s given credit for
  • Between 2013-16 Perth lost 98 ASX-listed headquarters, more than any other capital city
  • Globalisation has led to increased competition nationally and internationally
  • 37% of people surveyed post-boom, experienced some form of career disruption
  • 59% of households surveyed said they would struggle if costs went up by 5%
  • Western Australia’s income from international education in 2015 was lower than all other states, except the Northern Territory
  • There has been a 4.85% decline in Perth airport travellers between 2012-16
  • While our ageing population poses a number of challenges, there are also a number of economic opportunities
  • There was a 137%  increase amongst people aged 65 years and over, living in Greater Perth, who worked full-time between 2006-16
  • The State Agreement that established the Kwinana Industrial Estate is a prime example of how governments can pull levers to attract industry and drive the economy
  • Greater Perth’s economic base is changing. While mining is our most dynamic, there has been growth in rental, hiring and real estate services, arts and recreation and education and training.

As our Chairman said, the Committee has reached the exciting part of the B4 project. 

“In recent years the Committee has released a number of landmark reports including Filling the Pool and Get a Move On! Both reports changed the conversations and practices in relation to gender equity in the workplace and the need for integrated public transport and land use plans,” said John Langoulant AO.

“I’m expecting that the B4 report will also make a real difference when it comes to creating a better understanding about what benefits were left behind after the boom, how diverse our economy is, what our strengths are, and how we can nurture growing industries so that we avoid the boom-bust cycles we’ve previously experienced.” 

We’ll soon start drafting the report and its recommendations, which we’ll then socialise and stress-test with our members and stakeholders to make sure they not only resonate but will make the difference that our Chairman is referring to.

As the B4 project moves closer to its end, our thanks to PwC for not only hosting the Annual Chairman’s Lunch but also for their financial support as the core funder of the Bigger and Better Beyond the Boom research project.


Other articles from Insight, July 2018 (view email newsletter):