In economic development, we are often bombarded by elected officials crying out for new jobs and a lack of understanding of the complexities and nuances between the economy, job creation and economic development. While we would all strive to encourage high-value and knowledge intensive industry growth, we need to be mindful of our local workforce and its ability to deliver employees for new jobs that may be created. Do we have the necessary skills within our economy to meet the future requirements for jobs? Can we supply labour for the jobs that our economy is creating today? Can our labour force act as a catalyst for new business investment? The figure below shows an interesting perspective
New research released by Colliers International shows how Australia has become a very popular destination for Chinese investment into tourism. Starting at around $90 million in transactions in 2012 (which was just 6% of the total), Chinese investment in Australia hotels has soared to just under $1.1 billion in 2016 (37% of the total). Chinese investors have now become the single largest source of Australian hotel investment. Interestingly, domestic investors are right behind them in the second spot, contributing 29% of total investment. Figure 1. Chinese Investment in Australian Hotel Real Estate, 2012-2016 The reports highlight that while the Chinese have traditionally preferred to buy exis
A recent review of survey responses in the US over the last 30 years shows how some decision criteria has changed while others remain consistently important. Digital disruption, technological change, geo-political shifts, globalisation, etc. have all changed the way that business decision makers consider different locations for future investments and jobs. We break down the key trends and findings for your below. Note: % of respondents that identified the factor as ‘important’ or ‘very important’. Source: Lucid Economics; Area Development (2016) Key Trend #1: Skilled Labour Rules! Unsurprisingly, the availability of skilled labour has become the most important location decision factor for bu
