LATEST AUSTRALIAN BUSINESS NEWS
Regrettably, the latest data from the Australian Bureau of Statistics (ABS), indicates a decline in growth for the state of New South Wales (NSW), of which Sydney is the capital.
The ABS reports that the trend in building activity figures estimates that the total value of work done is now showing four quarters of decline. This compares unfavourably with the growth shown in the state of Queensland (QLD) - of which Brisbane is the capital - which has had two consecutive quarters of growth and with Western Australia (WA) - of which Perth is the capital - having had six consecutive quarters of growth.
The NSW Opposition party’s Shadow Treasurer, Ms Peta Seaton said that the figures continue to make a mockery of the government’s statement that “the NSW economy will accelerate a notch, reflecting the beginnings of a recovery in the housing sector."
Even though Sydney is regarded as the world’s best city (see the article below) – that is not enough to justify a business case for establishing a business presence for the long term. There is now greater reason for overseas businesses seeking a key site for establishing their Australian headquarters to consider cities other than Sydney. Many in the businesses community are lobbying the NSW Government to reactivate incentive programs to encourage businesses to locate in the state, rather than seeking locations where lower business taxes apply.
For information on this article, or on any other aspect of the Australian economy or business opportunities available, please email me.
David
david.taylor@agarcarlyon.com
Regrettably, the latest data from the Australian Bureau of Statistics (ABS), indicates a decline in growth for the state of New South Wales (NSW), of which Sydney is the capital. The ABS reports that the trend in building activity figures estimates that the total value of work done is now showing four quarters of decline. This compares unfavourably with the growth shown in the state of 
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