Cairns population is ageing but one RBA board member has an idea

Young people are making up less of the Far North as people search for opportunities, but one RBA board member said Cairns had an asset that could turbocharge growth and development.

After it was revealed that in just two decades Cairns median age changed from 34 to 41, Regional Institute of Australia board member Marnie Baker proposed more incentives to help large businesses move headquarters and officers to the Far North. Picture: Tim Little

Young people are making up less and less of the Far North population as people search for opportunities, but one RBA board member said Cairns had a gift that could turbocharge growth and development.

Leaders across northern Queensland gathered in Cairns for the Regional Institute of Australia’s conference on Thursday to discuss how the region can tackle gaps in critical infrastructure, improve sustainability and transform the northern economy in the years to come.

Cairns’ median age has risen from 34 to 41 in the past two decades, with young people aged between 15 and 29 accounting for roughly 20 per cent of the population compared to 25 per cent in Brisbane, according to census data.

Regional Institute of Australia board member Marnie Baker told audience members Cairns liveability could turbo charge the region’s workforce. Picture: Tim Little

RIA and RBA board member Marnie Baker, who acknowledged “brain drain” and fewer young people were a concern facing most regional areas, said Bendigo Bank had thrived despite a national headquarters in regional Victoria.

“I think the more incentives to get business into regional areas is what you need,” she said.

“Whether that is through incentives, through government, but also enticing businesses to actually come and start up because there’s just so much more to offer.

“I mean, when you live five minutes away from your work, you’re not having the peak hour traffic. You’re not having to worry about getting half an hour or an hour away to your childcare centre or to the school to pick up the kids, it’s a huge advantage.”

One of the ambitions of RIA is to increase the youth share of regional areas to 35 per cent by 2030.

Ms Baker said she was confident that people would choose liveability over the frustrations of a major city but they needed opportunity.

“Bendigo Bank is an ASX 200 company and they have their headquarters outside of a capital city,” she said.

“Being able to work somewhere where you’re not a number, but you’re a part of a business and part of an organisation, but more broadly, you’re part of a community that actually values you and what you do is incredibly valuable.”

Originally published as Cairns population is ageing but one RBA board member has an idea