New data shows that, at 7.1%, the Bundaberg Region has the second highest economic growth rate of major Queensland regional centres for the second year in a row.
The data was released by the National Institute of Economic and Industry Research through the Profile ID data platform.
The new data shows Bundaberg was only beaten by the Sunshine Coast which saw its economy grow at 8%.
Last year, Bundaberg was only very narrowly beaten by Rockhampton.
The region is growing faster than South East Queensland (4.5%) and pulling up the average for the Wide Bay which is growing at 6.4%.
Mayor Jack Dempsey welcomed the news which he said was indicative of the positivity and confidence being felt in the area.
“While the number one position has moved twice, the Bundaberg Region has stayed consistent, with strong growth all the time,” Mayor Dempsey said.
“Being consistently near the top spot in regional economic growth shows resilience, diversity, and strength of our economy.
“We are a balanced, stable, and genuine growth economy that has handled the economic head winds of the last few years better than most places.”
He said there were signs of strong economic growth visible within the community.
“We are seeing more and more people move here, along with many of our businesses in the process of expanding.
“All of these factors are contributing to the consistent economic growth figures we are now experiencing.”
Profile ID data reveals the Bundaberg Region’s Gross Regional Product was valued at $5.07 billion in the year ending June 2022.