Economic well-being is about ensuring people have educational opportunities, employment and a decent income. It is also about supporting businesses and enabling opportunities for innovation and entrepreneurship.


A thriving economy is one in which unemployment is low, incomes are relatively high and evenly distributed, and people are well educated. Entrepreneurship and innovation are important for economic growth and for sustaining a dynamic economy. These all contribute to the well-being of people. When people are in employment, when the economy is thriving, and people have money to buy goods and services, their well-being improves.

Apart from some fluctuations, Economic well being has continued to rise since 2010. An increase of 19% from 2001 to 2018. 

Measurable Outcomes

Prosperous Community

All members of our community prosper from a strong and growing economy. A thriving business sector attracts and retains a skilled and productive workforce.

Entrepreneurial & Innovative

Innovation, creativity and new endeavours are welcomed and encouraged. Ideas are exchanged across all sectors, resulting in a creative business culture. We have excellent education and research institutions, and benefit from being the seat of government.

Economic well-being GPI, 2001-2018

What this means

Despite fluctuations, particularly evident around the time of the global financial crisis (2008 to 2010), both of the community outcomes that make up the economic well-being aspect of the WR-GPI (prosperous community, and innovative and entrepreneurial community) exhibited improvement between 2001 and 2018. 

Did you know?

Using GDP, smoking has traditionally been counted as a benefit to the economy. With a GPI, smoking is regarded as a cost