Aligning with our key pillar of ‘Accelerating Growth’ the report draws on the ideas and recommendation of members and subject-matter experts from a series of conversations, surveys and workshops held at the end of 2023 and the first quarter of 2024.

We know that Adelaide has much to be proud of. The state’s economy is growing at a faster rate than the nations, with our unemployment rate currently sitting at 3.9%, compared to the national average of 3.8%.

While South Australia is enjoying some broad economic momentum, largely driven by cyclical industries and growth in some key sectors, not all South Australians are benefiting.

Our latest Benchmarking Adelaide report revealed that Adelaide’s labour productivity is nearly 20 per cent below peer cities and the city has a smaller share of jobs in high-wage and knowledge rich sectors.

In the global race for talent, Adelaide has to be vigilant that our long-held advantages such as affordability and lifestyle don’t erode. Other cities are clearly catching up.

Productivity growth is one of the main drivers of long-term improvements in living standards and wages. The more goods and services our state can produce, within existing inputs such as labour, capital and raw materials, the greater economic prosperity for the whole community.

To help address this issue, the Committee has identified 5-key areas to lift the state’s productivity and drive long-term and sustainable economic growth for all South Australians to enjoy:

• Increase investment in technology, innovation, training and research and development (R&D) across government, academia and industry.
• Position Adelaide to be a world-leader in digital technologies and artificial intelligence (AI).
• Ensure South Australia leads the way in gender equity, inclusive workplaces and economic empowerment.
• Support businesses to access talent, capital, and local supply-chain opportunities.
• Reduce red-tape, speed up decision-making and modernise workplaces and systems.

CLICK HERE TO DOWNLOAD THE 5-POINT PLAN

South Australia’s productivity challenge cannot be solved by government alone.

For South Australia to reach its full potential, we need to work together, across government, industry, academia, and the community to place a productivity lens over everything we do.

Because, as pointed out in the Benchmarking Adelaide report, the more productive we are as a city and a state, the higher the wages, the better working environments and increased prosperity for all to enjoy.

Click here to read an article in The Advertiser about our 5-Point Plan.