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Western Australia is Australia’s biggest state with one of the fastest growing economies.

The current population is 2.5 million, and the 2015 Western Australia Tomorrow report forecasts that it will rise to 3.27 million by 2026.

The capital city, Perth, is regarded as Australia's most globally connected city with particularly strong ties to our Asian neighbours, which places us ideally for investment.

Perth also shares a time zone (plus or minus two hours) with 60 per cent of the world’s population in the emerging economies of Asia, such as China, Japan and Indonesia. In addition, the city is undergoing its biggest transformation in 100 years – with billion dollar infrastructure projects in development.

Mining and resources are still very important to the economy along with other growth sectors such as agriculture, tourism, international education, gas and wealth management.

Tourism is a major industry in WA. It generates more than 94,000 jobs and contributes around $8.7 billion a year in visitor spend to the State's economy. Tourism is one of five sectors identified by Deloitte Access Economics as the next wave of economic growth for Australia.

Foreign direct investment is one of the key sources of investment into tourism infrastructure. Key source markets include Hong Kong, China, Singapore, Malaysia and Indonesia. There has also been interest from the Middle East and North America. For information on significant investor visa visit the Department of Immigration and Border Protection website.

With 24 major airlines servicing WA, the State welcomes more than a million international and domestic passengers a month through Perth Airport, which is also undergoing a $750 million redevelopment to enhance the customer experience.

WA's commercial environment encourages growth and prosperity. A stable supportive government, low sovereign risk, innovative government policies and transparent legal and regulatory processes contribute to its entrepreneurial culture.

The State also has a growing services sector, world-class education and health system and a highly skilled workforce.

For more information about the West Australian economy, trade and investment, visit the Department of State Development website.

Last Reviewed: 2016-11-07