University towns will continue to drive population and economic growth across NSW, according to a Population Projections report released by the NSW Department of Planning.
Minister for Planning and Public Spaces, Rob Stokes said the report showed that Wollongong, Newcastle, Armidale and Bathurst would see their populations grow by up to 26 per cent by 2041, driven largely by the 20-24 year old demographic.
Mr Stokes said education was NSW’s second most valuable source of export revenue, injecting more than $13 billion into the State’s economy in 2018 and supporting more than 95,000 jobs.
“In Wollongong, Newcastle, Armidale and Bathurst, education contributes $1.7 billion to the economy each year and employs 10,000 people directly and a further 10,000 indirectly,” Mr Stokes said.
“Projections to 2041 indicate Newcastle’s 20-24 age-group will remain a largest group of people in the area during coming years, many of whom will be students,” he said.
“Similarly, Armidale is showing one of the fastest growth rates in regional NSW and young people, including university students, are expected to remain an important part of the community.”
Mr Stokes said that for every 100 direct jobs in the education industry, 100 more were created through people living and spending locally.
He said more than 25,000 students studied at the University of Wollongong campus, and the city had seen more than 80 new bars, eateries and cafes established since 2012.
“Population Projections show Wollongong will grow by 55,400 people by 2041.”
Mr Stokes said that in Armidale, home to the University of New England, the population was expected to grow by 26 per cent in 2041, with people in their early 20s expected to remain the largest age group.
