BDO recently welcomed business leaders, innovators and community partners to our inaugural Business Outlook event in Western Australia (WA), held in partnership with Business News. The event provided a pivotal forum for exploring the economic forces shaping WA’s future, at a time of global uncertainty marked by geopolitical tensions, inflationary pressures, and shifting regulations.
WA’s business landscape is undergoing profound transformation, driven by global economic currents, rapid technological innovation, and an increasing emphasis on sustainable growth. The event explored the multifaceted forces influencing WA’s outlook. Topics ranged from fluctuations in global commodity markets and infrastructure investment, to the imperatives of climate transition, ESG, and the evolving demands of workforce capability and skills.
Discussions highlighted WA’s strengths as a resource-rich, innovative region, while emphasising the need for strategic foresight, agility, and collaboration. Looking ahead, WA businesses must harness new technologies, strengthen supply chains, and develop talent to compete globally.
These challenges were discussed at length by our keynote speaker and panellists:
- Andy Wood - Regional Managing Director, Defence and Intelligence, Microsoft
- Anders Magnusson - Chief Economist, BDO in Australia
- Julie Drago - Founder and Chief Executive, Realside Ovest
- Sally Langer - Non-Executive Director, Northern Star Resources
- Keith Wilks - Chief Executive, Southern Ports
Key themes and insights from the event include:
- Economic outlook - WA’s economy is strong, led by resource exports, population growth, and a push for diversification and digital transformation
- Business confidence - Despite competition and infrastructure challenges, WA leaders remain cautiously optimistic and focused on innovation.
- Productivity - Productivity is high but slowing; technology, regulatory reform, and skills development are key to improvement.
- Artificial Intelligence (AI) - WA is rapidly adopting AI across industries, boosting efficiency and driving innovation.
- Natural resources and energy - Mining remains central, with iron ore, gold, and lithium vital to supply chains and clean energy, despite regulatory and global pressures.
- Employment and skills - Labour shortages persist; smarter migration, skills development, and digital transformation are essential for a resilient workforce.
