Financial and professional services
NSW dominates the nation's services industries. Services comprise 88% of the state's industry output, highlighting the strength of our knowledge-based economy which centres around banking, insurance and finance, ICT, legal, accounting and engineering. Financial and insurance services is the state’s largest industry, contributing $67.5 billion to the NSW economy in 2015-16, and representing a 46% share of the national industry.
Uniquely located, our time zone bridges financial markets closing in the US and opening in the UK. Australia has long-standing links to fast growing Asian markets. With strong government support and outstanding quality of life on offer for your staff, Sydney and NSW are a compelling proposition.
The NSW State economy is diverse and the largest in Australia with the total value of goods and services produced in NSW being greater than many national economies in the Asia Pacific. Companies will have immediate access to a large, highly educated and multilingual workforce.
In 2015-16, approximately 186,000 people were employed in finance and insurance - that's 5% of our total workforce, and 43% of all people employed in the industry across Australia.
Additionally, more than 360,000 people were employed in the NSW professional, scientific and technical services industry in 2015-16, including 95,000 in legal and accounting services, 89,000 in architectural, engineering and technical services, and 86,000 in computer system design.
New South Wales is open for business
NSW Department of Industry can help you take advantage of NSW's strong professional services environment.
- guidance on how to set up a business in NSW
- advice on taxation and regulatory issues that affect service sectors
- introductions to business networks
- a market visit program that enables companies to explore the opportunities available in Sydney