Bright WA future iin new areas
Powering the future: Energy from wave power. Picture: Supplied

The next multibillion-dollar boom in WA could flow from the ocean, aged care and offering a quality lifestyle to retirees, a report out today found.

Compiled by analysts Deloitte, it identifies 25 areas that could provide a vital cash injection into the economy and produce jobs to fill the void from the resources boom winding down.

Mining is central to WA's economy but five other areas have the potential to be economic drivers.

They cover services for the growing number of retirees, digital health delivery, gas transport and infrastructure, ocean resources and solar advances.

Deloitte's WA managing partner Michael McNulty said the State was in a strong position to build on the platform delivered by the resources boom.

"The good news is that this State's potential beyond the first wave of the resources boom doesn't rely solely on global potential in other sectors," he said.

Deloitte believes WA's vast ocean resources could provide among the biggest opportunities.

They range from traditional ocean industries, such as fisheries, to creating "green oil" from algae and wave power.

"With more coastline than India, our access to both tropical waters and the Southern Ocean puts us in a unique position to take advantage of new technologies," Mr McNulty said.

The ageing population offers WA opportunities ranging from residential aged care and developing preventive health to carving out retirement havens.

Nationally, Deloitte believes growth in five areas - gas, agribusiness, tourism, international education and wealth management - could add $250 billion to the economy over 20 years.

Another 19 "growth pockets", which include gas transport, residential aged care, next-generation nuclear power, the digital delivery of health and food processing, could contribute another $150 billion.

Next-generation nuclear and solar power, though contentious, could improve energy systems.

The West Australian

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