NSW Treasurer Dominic Perrottet today released the NSW 2040 Economic Blueprint, a landmark document designed as a roadmap for continued success.
The Blueprint forecasts NSW will continue to power the nation, with our State economy tripling in size to be worth as much as two trillion dollars by around 2040.
Prepared by NSW Chief Economist Stephen Walters, the Blueprint predicts a bright future for NSW on the back of our strong financial position, high levels of education, focus on innovation and growth, and proximity to the booming Asian middle class.
“The billions we are pouring in to infrastructure are helping drive the economy and create jobs now, but also positioning the State for ongoing growth,” Mr Perrottet said.
“The future success of NSW is unlimited if we are prepared to back ourselves, innovate, build our skills, and have both a domestic and global economic focus to attract investment and create the industries and jobs of the future.
“NSW is a leader not a follower – we are building success for future generations.”
Mr Walters said the Blueprint would continue to evolve with the initial document focused on both short and long-term strategies to grow the NSW economy.
“The Blueprint sets the tone for our continued success – it doesn’t shy away from the challenges, but highlights the opportunities we have to really grow our economy.”
The report outlines a range of aspirations for NSW to reach by 2040 including:
- The nation’s first trillion-dollar economy
- Healthy, productive people
- Liveable and connected cities
- Productive, vibrant regions
- Innovative and world class businesses
- A sustainable environment with reliable and affordable energy
- Enhanced performance of government
For more information: treasury.nsw.gov.au/nsw-economy/nsw-2040-economic-blueprint