Best in the nation: State’s growth on the rise, new figures show

Global firms – such as consultancy company Cognizant – are increasingly looking to Adelaide as South Australia records the highest rise in gross state product in the nation last financial year.

SA recorded the highest rise in gross state product and highest GSP per capita growth in the nation last financial year. Picture: NCA NewsWire/David Mariuz

South Australia is continuing to kick economic goals, new growth figures show.

According to recent data released by the Australian Bureau of Statistics, the state recorded the highest rise in gross state product – the total market value of goods and services produced – and highest GSP per capita growth in the nation last financial year.

South Australia’s GSP rose 3.9 per cent in real terms in 2020-21 – the highest rate of growth of all states and territories – while the per capita rate increased by 3.3 per cent. By comparison, the national gross domestic product rose by 1.5 per cent over the same period.

The result was stronger than had been anticipated at the release of the State Budget, which had put SA’s growth at 2.25 per cent.

The GSP data release comes hot on the heels of news that global consultancy firm Cognizant will expand its operations in SA, with the opening of a new global delivery centre in Adelaide – creating up to 1600 jobs over the next five years.

The US multinational company – which employs almost 300,000 staff globally – will expand its Australia-based workforce to help local clients solve business challenges through direct access to skilled experts in software, artificial intelligence, machine learning, cloud computing and data analytics.

Cognizant chief executive for Australia and New Zealand Jane Livesey. The global consultancy company is among a number of leading tech and consulting firms which have unveiled large commitments to Adelaide in the past year. Source: Supplied.

Cognizant chief executive for Australia and New Zealand Jane Livesey says being based in Adelaide will help the company “fulfil our purpose to build a high quality, market-leading digital transformation capability that enhances the lives of everyday Australians”.

“We are proud to partner with the government to recruit, train and invest in the next generation of Australia’s highly skilled digital workforce and contribute to the growth of the SA region,” she says.

Cognizant joins other major tech and consulting firms which have unveiled large commitments to Adelaide in the past year.

US tech giant MTX Group will open 150 training places as part of a plan to create 500 jobs at a new service hub in Adelaide. Students Guy Everingham, Khushboo Singh and Roseli Jardim are pictured in its training facility on Leigh Street in September. Picture: Naomi Jellicoe

Accenture recently revealed it had employed 300 of an expected 2000 workers over a five year period, while Deloitte announced in September that it would recruit up to 500 staff for its new centre of Innovation and Technology. MTX Group said in May it would be recruiting for 500 new jobs for a local service hub over the next three to five years.

Cognizant has started to recruit for the new delivery centre in Adelaide with expressions of interest being sought at cognizant.com/au/en/adelaide-delivery-centre