Adelaide's Economy Grows: GRP, Business, Employment Expand Through 2023

The City of Adelaide recorded a Gross Regional Product of $23.95 billion in 2022/23 after posting a 5.7 per cent growth rate. That result placed the local economy at 18 per cent of South Australia's total output and confirmed the central business district's role as a knowledge-sector hub.

Tracing the Growth Trajectory

Figures compiled by economy.id show the $23.95 billion Gross Regional Product emerged from twelve thousand five hundred and fifty-eight businesses operating in the city. The majority of those firms sit in knowledge-based sectors, a concentration that has lifted the area's share of state activity over successive years. Greater Adelaide's contribution of more than 80 per cent of Gross State Product supplies the wider platform on which the central city builds.

Employment and Sector Strengths

The same data set records one hundred and sixty-nine thousand nine hundred and forty modelled jobs supported inside the City of Adelaide boundary. Health Care and Social Assistance stands as the single largest employing industry. Retail performance supplied an additional signal of resilience when Rundle Mall posted the nation's lowest strip retail vacancy rate of 4.1 per cent in the first half of 2022.

Population Base and State Context

ABS data for 2023 list the City of Adelaide population at twenty-seven thousand nine hundred and one residents. This resident base underpins daily activity alongside the larger workforce that commutes into the central business district and North Adelaide.

Forward Outlook

With established strengths in health care employment, knowledge-sector businesses and measured retail occupancy now in place, the local economy continues to operate from the platform documented through 2022/23. Observers will watch how these verified components respond to ongoing state-level conditions.