The Committee for Wyndham hosted key community stakeholders at its 14th annual Economic Update Lunch at Shadowfax Winery on Thursday, August 21.
This year’s update was delivered by Commonwealth Bank’s chief economist Luke Yeaman– whose credentials include serving as former prime minister Tony Abbott’s principal economic advisor.
Mr Yeaman opened by noting how he had seen Wyndham change drastically, if only as a passerby.
“I have to say I have really clear memories of crossing the bridge and there was nothing, just paddocks,” he said.
“To see it today and just see the development that is out here is quite extraordinary and a testament to the people in this room.”
The renowned economist’s presentation covered an array of economic factors that impact Wyndham, ranging from China’s role in the world economy to Trump’s tariffs.
Mr Yeaman said that Wyndham’s credit and debit card spending was something that caught his eye when studying the region.
“You can see partly because of that strong population growth, we are seeing much stronger growth in credit and debit card spending here in Wyndham than you are in the rest of Australia. Far higher than you are seeing in Victoria, 8-10 per cent as opposed to 4-6 per cent across Victoria as a whole.”
He also said Wyndham’s position as a major growth corridor could make it ripe for a multitude of industries, including defence and technology.
“The opportunity is really to harness that growth through industry by getting those transport links into the area. I think this area has a huge opportunity to capitalise on that.
“There is a large growing population here and there is a strong participation rate of people looking to be active in the workforce, so it’s really about bringing those industries and jobs here.”
Mr Yeaman said a big piece to that puzzle is improving public transport connectivity and ensuring social infrastructure like schools and sporting facilities are there to make Wyndham an attractive place to work and live.
The Committee for Wyndham is a nonpartisan, not-for-profit organisation that facilitates and fosters connections among businesses, communities and government bodies to advocate for a stronger Wyndham.
