Trade & Tourism
Export growth, inbound tourism and international students.
These are critical components in South Australia’s long-term economic growth ambitions.
Export growth is a key pillar of economic growth
One of the key conditions for the continued economic prosperity of South Australia is a strong export sector, particularly in the absence of material population growth to drive domestic demand. Over the decade to 2020, the State’s economic growth averaged 1.3 per cent and population growth averaged 0.8 per cent.
South Australia must keep encouraging export growth as a key pillar of economic growth, ensuring we do not fall behind other states. For the 2019/20 financial year, the export sector accounted for 13.5 per cent of South Australia’s GSP12, down 2.6 percentage points from its high in 2016/17. While the March and June quarters of 2020 saw significant disruption in trade due to COVID-19, exports were seen trending downwards pre-COVID.
The South Australian Business Chamber acknowledges that while South Australia has experienced an uptick in goods exports for 2020/21, it also comes off the back of strong commodity prices and demand, as well as a bumper grain crop. We celebrate a strong export year for South Australia, but urge caution in viewing this result as an inflection point for future growth. With 6.9 per cent of Australia’s population and 3.2 per cent of Australian exports in 2019/20, South Australia continues to be under-represented in the population and export ratio.
The South Australian Business Chamber recognises that simply incentivising businesses to seek export opportunities is not the ultimate solution for increased export flows, especially when you consider the fluctuations of international demand and foreign exchange rates. Crucially there needs to be a continued focus on ensuring that South Australia is cost competitive for exporters. On the other hand, governments can also play a key role in assisting businesses looking to export through activities including State organised trade missions.
If you’d like to get in touch with our Policy and Advocacy Team, please submit an online enquiry and one of our staff will get back in touch with you.
Tourism is an important part of our export growth strategy
Tourism, including major events, also needs to be a continued focus of a State Government’s export growth strategy. The South Australian Business Chamber proposes a focus on cycling tourism to leverage off our world class wine regions, and positioning South Australia to host major sustainability related business events, including the UN Conference of Parties (COP).
South Australia's Most Definitive Report on Business Confidence
One of South Australia's most influential and important business publications, the quarterly Business Now report contains detailed findings from a survey of South Australian businesses.
Despite feeling the brunt of rising costs in the December quarter, South Australian operators are quietly optimistic about the future.See December results
Trade and Tourism Publications
The South Australian Business Chamber submission: Inquiry into access to free-trade agreements by small and medium sized enterprises
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