Foreign investment to stimulate NSW, Sydney economies

Foreign-investment-in-NSW-may-feed-through-to-Sydneys-booming-economy_157_67043_0_14099660_300A sizeable amount of foreign investment for New South Wales may well have positive ramifications for Sydney property owners, as business continues to boom in the capital as well as elsewhere in the state.

NSW’s international trade and investment offices locked down $500 million worth of foreign investment during the most recent financial year, noted an April 11 release from the state government.

Overseas markets targeted

Deputy Premier Andrew Stoner explained the government has been “actively targeting key overseas markets”, according to the release.

While this will facilitate export opportunities, it will also grow the economy and stimulate job growth, which is certainly favourable for existing home buyers.

The announcement came alongside the release of the Department of Trade & Investment’s latest report, released this month, ahead of Mr Stoner’s United Arab Emirates and Singapore trade mission.

“The State’s diversified industry structure is expected to provide support to the regional labour market as it adjusts from strong mining investment towards export growth on the back of a lower Australian dollar,” according to a summary of the report.

Employment growth 

Alongside a focus toward diversifying key industries, the trade and investment report discusses employment forecasts for the state.

Between November 2012 and November 2017, job growth in regional NSW is expected to be a positive 5.2 per cent, according to the report.

Things are looking even better for Sydney, which could spur further property investment, whether in residential or commercial real estate.

It’s anticipated that in the five years to November 2017, employment in Sydney will grow by 6.9 per cent. The social assistance and health care industry is expected to need the biggest number of new employees.

Increasing childcare demands, an ageing population and the need for home-based care services are factors that will push this growth.

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