Doing business in Hobart

'Tasmania is once again the country's best performing economy, according to CommSec's State of the States report in which Tasmania ranks first on two of the eight indicators - equipment spending and dwelling starts.

Tasmania's job market remains strong, the 3.8 per cent jobless rate is 36.7 per cent below the decade average while wages are growing at the fasted rate in the nation.

Hobart City's Gross Regional Product was $8.30B in the year ending June 2022 growing 3.3 per cent since the previous year (source: .id community). Hobart contributed 22.4 per cent of Tasmania's total $36.91B as the value of business productively continues to grow particularly in Health Care and Social Assistance, Public Administration, Financial and Insurance Services.

In addition, Telecommunications and Professional, Scientific and Technical Services sectors and Education and Training and Accommodation Services can be viewed as emergent and growing economic opportunities for the City in terms of both value added and employment growth.

Hobart has a relatively small population base compared to other Greater Hobart Councils. There are more Professionals in Hobart City than any other occupation (36.7 per cent compared to 24 per cent nationally); but less trades and technicians (8.8 per cent compared to 12.9 per cent nationally), while Community Service workers may up around 12.8 per cent of the workforce, compared to 11.5 per cent nationally, while generating around 21 per cent or $1.59B of economic value to the local city economy, demonstrating strong output for moderate employment input.

Hobart has the lowest level of recognized relative socio-economic disadvantage in Tasmania (source: ABS SEIFA) along with a strong level of tertiary education capability in its workforce, with 49.1 per cent holding a Bachelor or higher degree compared with 29.3 per cent in the rest of Tasmania and 35.4 per cent nationally. This is offset by a relatively low level of trade capability with certificate III and IV qualifications sitting at 14.2 per cent compared to 19.5 per cent nationally and 24 per cent across Tasmania.

Office of the Coordinator General

Business Tasmania

Enterprise Centres Tasmania