Julius Dabreo - Buyers Agent’s Post

View profile for Julius Dabreo - Buyers Agent, graphic

I assist real estate investors in identifying high-potential markets to maximize capital appreciation and expand their impressive portfolios. Property Buyers Agent l Data Expert l Founder of PropWealth

Demographic Shifts and Projected Growth in Tasmania Abstract: Tasmania’s demographic landscape is poised for gradual population growth yet faces a unique set of challenges due to an aging population and a projected decline in natural increase. This study, informed by data from the Australian Bureau of Statistics (ABS) and the Tasmanian Department of Treasury and Finance, uses a heatmap to visualize key demographic indicators, illustrating how Tasmania’s population dynamics are likely to change between 2023 and 2053. This analysis underscores the need for strategic planning and policy adjustments to attract young migrants and maintain economic stability. Introduction: As of June 2023, Tasmania’s population reached 573,156. While growth is projected to continue estimated to reach 641,045 by 2053 the pace of this increase is expected to slow considerably. This research visualizes demographic changes over time, focusing on projected shifts in population growth rate, natural increase, and median age, highlighting the anticipated reliance on migration to counterbalance an aging demographic. A heatmap visualization illustrates these trends to guide policy decisions and ensure Tasmania’s sustainable development. Methodology: Population data and projections were sourced from the ABS and the Tasmanian Department of Treasury and Finance. A heatmap was created to present changes in three demographic indicators from 2023 to 2053: 1. Population Growth: Trends in the overall population count. 2. Growth Rate: Projected natural increase rates, reflecting births vs. deaths. 3. Median Age: Anticipated rise, highlighting the aging trend. The heatmap uses a gradient from light to dark, indicating lower to higher values in each category, with clear delineations to emphasize shifts over time. Results: The heatmap highlights Tasmania’s demographic changes: • Population Growth: Tasmania’s population is expected to grow slowly over the coming decades, with a projected increase from 573,156 in 2023 to 641,045 by 2053. • Growth Rate: Starting in 2032, Tasmania’s growth rate is expected to decline as deaths are projected to exceed births, underscoring the need for net migration to maintain population levels. • Median Age: With the median age rising from 41.9 years in 2023 to an estimated 48.8 years by 2053, Tasmania’s demographic profile will reflect a significantly older population, impacting workforce dynamics and healthcare needs. References: • Australian Bureau of Statistics. (2023). Regional Population Growth, Australia, 2023. • Tasmanian Department of Treasury and Finance. (2023). Population Projections for Tasmania and its Local Government Areas.

  • No alternative text description for this image
Manoj Sahare

Founder and Chief Growth Strategist | Real Estate Agent

1mo

Great insight

Like
Reply

To view or add a comment, sign in

Explore topics