South Australia is currently facing one of its most challenging economic and social transformations in its history. For a small developed economy that is (and has been), largely dependent on its natural resources as its primary source of income, growth and prosperity, it now needs to adapt more quickly and effectively to ever increasing challenges of globalisation, the rise of low cost developing economies, and technological advancements.
Over recent decades South Australia’s decreased ability to compete globally has meant that the State has been forced to play catch-up in international markets. Export growth and diversification is critical for the State’s growth, and whilst South Australia’s exports have increased in absolute terms over the last two decades, it has lost a significant proportion of market share. Continued reliance on commodities exports only, will see further declines in the State’s global competitiveness and increase exposure to volatile commodity prices.
The findings and policy implications in this report provide a future direction, based on empirical evidence, that builds on South Australia’s strengths.
The EDB recognises that a productive cultural and creative sector is as a key marker of a successful economy and makes a community liveable. A vibrant arts ecosystem is both an economic force in its own right and supports the state in attracting and retaining the diversity and calibre of residents we seek to drive the connectivity, innovation and creativity that underpins our future prosperity across a range of sectors.
Two discrete elements of work are being pursued by the EDB’s Creative and Cultural Sub-committee:
- The first is a literature review of materials that provide learnings from other locations (both nationally and globally) on the social and economic impact on cities and regions that have invested in the creative and cultural sector
- The second recommendation is to take lessons that are applicable to South Australia from the literature review to develop a common framework or tool for assessing creative and cultural sector investment opportunities
The literature scan and framework will support and facilitate State Government prioritisation of funding opportunities and contribute to clear, robust and consistent decision-making. Building on State Government policy for funding assessments, it will have a broader remit to consider additional social and cultural factors beyond the use of a purely economic lens in making investments in the sector.
Adelaide Convention Centre November 22-23, 2017.
The Conference will highlight the leading transformational global trends and bring together international experts to explore the business innovation and social innovation opportunities through people’s participation and productivity. At the heart of the design and thinking is ensuring people in their 60’s and beyond have better choices that bring their life greater purpose and meaning, and more control in determining the choices available to them as they transition through life’s course.
For further information regarding the Conference program, speakers and registration please click here.
CEDA’s Economic Political Overview 2017 brought together leaders from industry, academia and government to provide insight to key indicators and influences on the political and economic landscape in South Australia and what they mean for our future.
Raymond Spencer, Chair Economic Development Board of South Australia, addresses issues facing the National and State economy, the role of all South Australians in maintaining and indeed advancing South Australia’s prosperity and standard of living, and the current focus of the Economic Development Board in 2017.
The Economic Development Board of South Australia is challenging businesses and entrepreneurs to demonstrate their an innovative product or service developed they have developed to meet the growing global demands of the Ageing Well market.
Businesses and entrepreneurs who have developed products or services that improve the lives of people aged 60 and over are encouraged to apply for the Premier’s Ageing Well Innovation Challenge.
Winners will have the opportunity to showcase their innovation on an International Stage at the Ageing Well International Conference in Adelaide this November.
3 January 2017 – economic-powerhouse-fuelled-by-senior-smarts
The Economic Development Board is leading the State’s activation in understanding how South Australia could assist to shift society’s mindset, from ageing being considered a social and economic burden to that of a social and economic opportunity. They will do this through realising the untapped asset of people aged 60 years plus, focusing on productivity and not dependency. The program of work that has culminated in this report signals an important step in the State’s development and leadership to understand and respond to the changing wants and needs of citizens as they age well. Reflecting on this report, it offers ideas, and most importantly, serves as knowledge to prompt South Australians to actively engage in global opportunities the Ageing Well sector offers.
The purpose of the Economic Development Board is to maximise the value of emerging economic opportunities for South Australia, so that South Australia is recognised as the most competitive place in Australia in which to invest and grow a business.
South Australia should be positioning itself as the SiliconValley of aged care as current thinking about submarines and mining as a silver bullet for the economy is “plain stupid”,according to the chief of the state’s Economic Development Board.Read news release
This year should be a time for action and not more planning and promises.
Read news release
A new centre to help the state’s food and beverage businesses develop and deliver high value,
market leading products is now operating from the Waite Campus.Read news release
We hear a lot these says about the importance of innovation to drive South Australia’s economic recovery. Read news release
An international expert and former head of the Welsh Government’s trade and investment
body has been appointed Chief Executive of South Australia’s new investment agency. Read news release
A leading European trade and economic adviser has been headhunted by the Weatherill Government to spearhead a new agency designed to attract investment in South Australia.Read news release
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