The place to be: Victoria tops national state economic rankings for first time

Victoria has taken over New South Wales as the top state for economic performance for the first time.

As reported in The Age the latest State of the States report from CommSec shows economic growth in Victoria is 26.5 per cent above its 10-year average, edging past NSW in the year to the March quarter.

Craig James, CommSec chief economist told Ross and John it’s a real achievement.

“It’s a long time coming, over the past 12 months we’ve been saying Victoria is getting closer and closer to New South Wales,” Mr James said.

“Employment is rising, unemployment is falling, that’s a positive thing.

“Also tourism demand, China is our largest source of tourists in Australia and they’re not just coming to look a the Sydney Harbour Bridge, they’re coming to Melbourne an Victoria more generally.”

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