FACTBase Bulletin 13 - Global Competitiveness

​This paper is the first in a series that will build a wider understanding of how Perth compares with a group of broadly similar cities in Australia and North America.

Key Findings

• Perth’s increasing engagement with the world economy as more than a hub for the provision of raw materials, but as a locale of decision‐ making and power, places it in a unique position in the Australian economy.
• It is important to remember that a large part of Perth’s growth and competitiveness over the last decade has been driven by the mining and resources sector. Previous Committee for Perth research ‘Perth’s Economic Base: A Comparative Assessment’ underscores the important role of the mining sector and points out that it is twice as important for Perth’s economy as any other single sector.
• While Sydney and Melbourne were still the chosen locations as centres of corporate control of most of Australia’s largest companies, Perth was catching up.
• When considering all the firms listed on the Australian Stock Exchange a new picture is emerging. In September 2010, Perth ranked highest as the preferred location of corporate power, accounting for 41 per cent of total list companies. Sydney and Melbourne on the other hand, accounted for 29 and 17 per cent respectively.
• Perth’s position within the national economic framework is likely to be further consolidated over the coming decade with the ongoing investment in new resource projects, particularly in the minerals, oil and gas sectors.
• Perth is both specialised and diversified which also helps to reduce the economic risk associated with dependency on one specific sector.
• Skilled migration plays an important role in keeping Perth competitive – 33 per cent of our population was born elsewhere.