Queensland leads on business confidence and growth prospects

Two recent reports indicate that Queensland’s economy and therefore employment opportunities are looking brighter.

For the second month in a row, Queensland business confidence is the highest of all mainland states, according to the August NAB Monthly Business Survey.

And consulting group Deloittte’s recent research is predicting Queensland’s economy to grow by 4.5 per cent over the current fiscal year, and another 4 per cent in the 2016/17 year.

The NAB survey pointed to business confidence levels at +7 points, one point higher than NSW and the trend business conditions index rose by two points to +2 points.

The Deloitte report also highlighted some industry growth sectors, and these areas are some of the most well-reported for providing on the job training, good news for those looking to find an apprenticeship of traineeship.

The liquefied natural gas (LNG) industry is predicted to grow with Queensland aiming to be the most prosperous region in the world for such exports by 2018. The wider resources sector (one of the long-standing four pillars of the state’s economy) will also rally somewhat, Deloitte predicted, with exports ready to increase by 17 per cent this financial year and 16 per cent in the 2016/17 period.

“Queensland has enjoyed a significant economic benefit from the resource boom,” a summary of Deloitte’s report read.

“Now that the boom is receding, Queensland’s challenge is to diversify the economy and transition toward industries of future growth potential. Future investments should focus on Queensland’s competitive advantages and global opportunities.”

The state’s tourism industry was another sector tipped for significant opportunities. International visitors to Queensland are expected to increase by 14.7 per cent over the next three years.

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