There are indications of a transition towards a more sustainable, innovative, and globally connected economic landscape for the city.

Perth's position as a financial hub is bolstered by a skilled workforce and a robust regulatory environment. Other positive developments include the establishment of a major tech hub near Central Station, the shift towards a circular economy, and innovation driving growth in the technology, finance, and education sectors.

However, there's always room for improvement. To build on its natural advantages, Perth needs to diversify its economy and reduce its reliance on mining. 

Decarbonisation and the world's transition to green energy are key opportunities for Perth to use its abundant resources and turn them into competitive advantages.

The city is also building its capacity as a trading and travel hub, with a $5bn upgrade underway at Perth Airport. Continued investment in infrastructure that connects Perth to the rest of Australia and the world is also key to unlocking the full potential of Perth's economy.

Read the report for further details on the Perth economic outlook.

Perth's urban development is focused on addressing housing affordability and supply issues. 

But houses aren't built overnight, and the population's preference for detached housing has created an unsustainable urban sprawl. 

This is leading Perth policymakers and property developers to look at additional solutions, including mixed-use developments, more urban infill and an increase in high-density living , particularly around major transit corridors.

The State Government has also announced measures to tackle housing and homelessness issues, including a $400m expansion of the Social and Affordable Housing Investment Fund and $144m for new housing projects.

Further details on Perth's urban development can be found in the report >

The city boasts a developed services economy, and there is growing interest in enhancing Perth’s downstream processing and expanding into new value-adding production activities for our mineral resources.

Industrial tourism also offers opportunities, with waste-to-energy plants like the Kwinana Energy Recovery facility and the East Rockingham Waste to Energy facility showcasing world-leading industrial practices.

Industrial tourism also offers opportunities, with waste-to-energy plants like the Kwinana Energy Recovery facility and the East Rockingham Waste to Energy facility showcasing world-leading industrial practices.

Get more insights into Perth's industrial opportunities and challenges in the full report >

Perth is facing significant challenges due to climate change, with average summer temperatures increasing by about 3°C since 1910, well above the national average. 

Part of the approach to address this challenge is the City of Perth's Urban Greening Strategy, which aims to build a greener, cooler, and more resilient city by 2036. 

However, the barriers to a more sustainable future include competing interests in a state that owes its wealth to fossil fuel. There is a need for strong leadership and bipartisan support to effectively address decarbonisation and mitigate climate change.

Find out more about Perth's climate adaptation in the report >

Perth’s scientific breakthroughs, from medical research to mining technology, are shaping its global identity.

Perth's successes in innovative projects, such as the Square Kilometre Array (SKA) and the Australian Remote Operations for Space and Earth (AROSE) consortium are to be lauded. However, the city needs to increase investment in science, engineering and technology education that aligns with WA's commercial reality and vision for the future. 

Ensuring our local cultural offerings can more than hold its own on the world stage must also form part of the city's strategy to attract, nurture and retain the top talent required to drive this momentum forward.