The Council is currently updating the Economic Development Strategy, and we were privy to a briefing that was informative and somewhat surprising.
The graph below shows the decline in economic growth in WA since 2012, which appears to have hit rock bottom in 2017. Importantly, it also shows the decline in disposable income – the money people have to spend on shopping, eating out and recreation. Thankfully, it appears that the worst may now be behind us.
Staff undertake a detailed assessment of the business mix and vacancies in the CBD annually, which is shown below. What surprised some of us on Council was the business mix in the CBD – is this what you would have expected when thinking about the proportion of different types of businesses in the CBD?