The Regional Australia Institute (RAI) is challenging the common misconceptions about rural cities through its Great Small Cities initiative. With a growth rate four times that of major cities and and and economic output on a par with that of Finland, encouraging investment in regional cities could provide huge economic benefits to Australia as a whole.
4.5 million Australians live in a network of 31 regional cities across Australia and these cities are a vital part of the Australian economy. The RAI plans to work with city leaders, governments and the Australian public to encourage policy which will make the most of the opportunities presented by regional city economies.
They take a two pronged approach. Firstly they aim to bust the myth that it is only worth investing in metropolitan cities such as Sydney, Melbourne, Perth, Adelaide and Brisbane. Secondly they have developed a blueprint for investment in City Deals to ensure that regional cities will be investment ready.
The Regional Australia Institute’s Regional Accelerator Program seeks to support regional businesses
If investment is successful, Australia’s ‘hidden metropolis’ of 4.5 million people spread across 31 regional cities has the capacity to produce $378 billion in output by 2031.
The Great Small Cities Initiative emphasises that regional cities are just that: cities, rather than the small rural towns revolving solely around agriculture that readily spring to mind when most Australians hear the word ‘regional’. However RAI are also keen to point out that regional towns often have less congestion, pollution and extreme property prices than their metropolitan counterparts.
In order to show the real demographic and skills base of regional Australia, RAI have teamed up with LinkedIn to examine the skill mix in five regional cities and how connected professionals are within, and outside of, those cities.