A question I’d like to pose, is what is happening with the Australian economy? Every time you look around more retail shops are closing on our main streets, especially in small towns. The cost to rent anywhere is ridiculously expensive, so why bother with a shopfront? Commercial real estate owners are yet to realise supply is now outstripping demand and many shopfronts now stand ghostly empty in our streets. With the latest economic figures being a reminder that economies go forwards, sideways and backwards, what does the future hold for Australian business?
We're at a tipping point where manufacturing is dead, mining is stumbling along, agriculture is almost subsistence living for many farmers, retail is still coming to terms with the reality of eCommerce and cafés seem to be popping up everywhere! Are we becoming a nation of public servants and café owners? Hopefully not, as diversity is key to a sustainable economy!
What then is the way forward? With our cities bursting at the seams and a two hour daily commute wasting 20 whole days of your life a year, what's the answer?
Well that's simple, decentralisation. Move more services away from the main cities into regional areas. So long as regional centres have fast internet and an airport, and a couple of good cafés, this opens a world of opportunity for government, professionals and businesses at a fraction of the cost of our major cities.
Regional centres have cheaper housing, virtually no traffic, open spaces and a pace of life and lifestyle which lends itself to far better family time and opportunities to connect with others. Most employees only get twenty days of annual leave each year, yet living in the city, they’re spending the equivalent of their entire holiday break sitting in traffic.
The reality is that as communications improve, there’s no reason why you can’t run big businesses from regional centres. There’s no reason why every single government department needs to be in a city. It’s cheaper to fly senior managers in and out of Sydney, Melbourne or Canberra for meetings, than the massive cost of renting entire office blocks in the CBD. After all, how many clients who are being served actually walk into the office?
If people have access to core services in regional areas, fast internet access and fast transport options, then the opportunities for a better life style is beckoning. Whilst many a study, by those living in the city, will tell you how it makes no difference, why not give it go. Spend a few weekends in a regional town or city and get a feel for what life would be like without the horrendous congestion.
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