KNIGHT FRANK INFORMATION MEMORANDUM
ECONOMY ON THE RISE
103,217
104,000
102,802
96% of target met
102,000
100,000
97,740 97,658
98,000
96,194
95,560
96,000
94,000
92,641
92,000
90,000
88,000
86,000
10 year target
2017-18
2018-19
2019-20 2020-21 2021-22 2022-23 2027-28
Source: National Institute of Economic and Industry Research (NIEIR) 2024
In 2022-23, Wollongong’s Gross Regional Product (GRP) reached a new high of $15.7B, up 4.9% over the year and 13.3% over five years. The broader Illawarra-Shoalhaven economy is now estimated to be worth $27.3B, with Wollongong representing 57.6% as the regional capital. As at 2022-23, there were 102,802 local jobs within the Wollongong LGA, an increase of 5,143 jobs (+5.3%) over the past year and a 10,161 (+11%) increase against the base line over the first five years of the Strategy.
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