Canberrans: Healthy, Wealthy and Wise
What’s the secret to Canberra’s strong and secure economy? It’s our people. Compared to our interstate cousins, Canberrans are healthier, wealthier and better educated, which is good news for businesses looking to invest in Australia’s national capital.
The strength of any business lies in its people. Canberrans have the highest life expectancy in the country, higher than average disposable incomes and a higher than average rate of tertiary qualifications. This means they are both perfect workers and customers, and this plays an important role in Canberra’s business-friendly environment.
According to the latest Chief Health Officer's Report, the health of Canberrans across a number of areas has improved over recent years, from a reduction in smoking levels to an increase in immunisations. In fact, Canberrans have the highest life expectancy across Australia, reaching 85 years for women and 81 years for men. What does this mean for business? A healthy labour force who are well placed to contribute to Canberra’s robust economy.
Canberrans have higher disposable incomes than Australia's national average, thanks to our high workforce participation rate and the highest average full-time incomes in Australia. This is good news for businesses in the region, with a ready market of customers for all manner of goods and services. With our population of 390,000 looking set to reach half a million within the next 15 years, this lucrative market is only going to get bigger.
Wise and well-educated
Canberrans like to learn. We have more tertiary qualifications, per capita, than any city in the southern hemisphere. We also like to keep our qualifications fresh, with 4% of adults aged over 40 enrolled in ongoing education at either universities or technology institutes (compared to the national average of 2%).
In terms of labour force productivity, Canberra rates extremely well, with each worker generating over $90 (AUD) of value added per hour. Compare this to Australia’s already high labour productivity rate of $75 (AUD) per hour, and you can see that Canberrans are not just healthy, wealthy and wise, we’re efficient too.
If you want your business to benefit from the unique attributes of the Canberra labour force, then talk to the team at Invest Canberra. Invest Canberra are here to open doors for business. Contact us at: http://www.investcanberra.com/contact-us.aspx