New report shows Tasmania’s retail sector leading the nation

Roger’s media release announcing that Tasmania is leading the nation in retail growth

A new report from Deloitte Access Economics shows that Tasmania’s retail sector is leading the nation.

The report, released today, confirms that jobs growth and increasing visitor numbers are driving the surge in retail spending.

The key findings in the report are that:

“…Tasmania’s economy has fared well in recent months.”

“Employment growth has been outpacing the national average and wealth is growing as house prices rise faster than most other cities (excluding Sydney and Melbourne of course). And the effects of wealth on spending are stronger in Tasmania than elsewhere, since mortgage stress in Tasmania affects a lower proportion of residents than any other State.”

“Not only that, consumer spending is being boosted by Tasmania’s tourists. Increased room occupancy, international visitation and tourism spending has been a key supplementary market for Tasmania’s retail sector.”

“Retail spending growth in the State was 3.0% over the year to June 2017, well above the national average.”

The report forecasts that retail spending growth in Tasmania will be the second highest in the country and well above the national average in 2017-18.

The Hodgman Government is backing retail businesses to continue to grow, invest and employ more people.  In particular, we are committed to increasing employment in small businesses by ten per cent. Many of these small businesses have a retail focus and reports like this show that we are on the right track.

We are getting on with the job by cutting red tape that holds businesses back and rolling out our $25 million jobs package to help more small businesses employ young Tasmanians.