6.2 Drivers of infrastructure demand - population and economy
Based on medium level projections from the Australian Bureau of Statistics (ABS), the Tasmanian population is projected to reach 560,000 in 2031 - an increase of 48,000 people, or nine per cent, from 2011. The Tasmanian Government466 projects the same number of people in 2031, but is developing a population strategy, due for release in mid-2015, to identify strategies to achieve a population target of 650,000 by 2050.
The Audit projects slower population and economic growth in Tasmania than for Australia as a whole from 2011 to 2031. This shows as a declining share of the national total in Table 79.
Table 79: Projected population and economic growth for Tasmania
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| 2011 | % of National | 2031 | % of National | Increase % 2011-31 |
| Population (persons) | 511,483 | 2.3% | 559,706 | 1.8% | 9% |
| Gross State Product ($m) | 24,232 | 1.7% | 34,358 | 1.3% | 42% |
Source: ACIL Allen Consulting (2014a)467
Figure 98: Population projections for Tasmania - 2011 to 2031
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Greater Hobart
Balance of 
Total Source: Australian Bureau of Statistics (2013c)468
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466. Tasmanian Department of Treasury and Finance (2014)
467. Gross State Product is in 2010-11 prices.
468. Series B (medium level) projections.