WHAT does a shrinking middle class and a train to the ‘outer suburbs’ have in common?
They’re both coming to Bass Coast and are fundamental to the area’s future, according to demographic researcher Simon Kuestenmacher.
Director of The Demographic Group, Simon investigated the upwards trajectory of markets in the Bass Coast last Friday morning at the Wonthaggi Clubhouse.
“Looking at the different demographics that will possibly lead to how the area is in ten years, it’s crucial to understand that there is a shrinking middle class in Australia,” he said.
Talking to 30 engaged listeners, Simon discussed the stable growth of Bass Coast and the effects a shrinking middle-class may have leading into the 2020s.
“Australia’s average income is no longer a bell-curve. We have a shrinking middle class with more lower-class and more upper-class,” Simon said.
He said targeting a specific end of the market is crucial for business success.
“Targeting a portion of the market can be hard for a business starting out, but we have seen it become successful overtime,” he said.
Simon also discussed the proximity of Bass Coast to Melbourne as a valued asset for continued growth.
“If you want to grow a population, you need to improve the linkage with Melbourne,” he said.
“Wonthaggi is still in the orbit of Melbourne and a rail link, where users can commute practically, is very important.
“A bigger success would be to get a train, a train is a more functional version of travel.
“Travelling by train would be the kicker,” Simon encouraged.
“The area has a strong entrepreneurial sector and will continue to prosper if these factors are considered,” Simon said.