The economy of New South Wales benefits greatly from its mix of diversified industries. Traditional manufacturing, mining and agribusiness sectors have provided a firm foundation for diversification into high-growth areas such as aquaculture, biotechnology, ICT and viticulture.
NSW is renowned for its world-class professional services offerings, highlighting the state's strength in knowledge-based businesses and 90% of international banks operating in Australia are headquartered in Sydney, and the city is home to more than 60% of Australia's regional ICT headquarters and operations centres.
The medical technology industry is the largest in Australia, generating an estimated $4.8 billion in revenue per year and employing around 7,000 people.
Mining and resources
Mining, resources and energy is a booming part of the NSW economy, driven by large and diverse mineral and gas deposits, exploration projects. It benefits from NSW's highly-skilled workforce.
Renewable energy and sustainability
NSW has the largest renewable energy and sustainability sectors in Australia, backed by major government and private sector initiatives.
NSW is the crown jewel in one of the world's premier tourist destinations. More people holiday in NSW than anywhere else in Australia.