21 reasons multinationals should open an office in Sydney, Australia
17 February 2015
Situated on the doorstep of Asia, Sydney is Australia's largest city and a regional powerhouse in one of the most stable political and regulatory environments in the world - making it the ideal location to open your next office.
While Sydney may be famous for its golden beaches, there's more to the city than just sun, sand and surf.
Why Sydney and NSW?
- New South Wales (of which Sydney is the capital city) Gross State Product (GSP) of AUD $492 billion makes it larger than the economies of Hong Kong, Singapore, Thailand, Malaysia and the Philippines.
- NSW generates 31% of Australia's Gross Domestic Product (GDP) making it the largest state economy.
- NSW has a AAA credit rating.
- Population size: Approximately 7.5 million.
- Multi-skilled, multilingual workforce: 1 in 3 Sydneysiders speak a language other than English at home.
- 52% of the working-aged population (15-74) are tertiary qualified (51% nationwide).
- Largest workforce of all Australian states.
- Unemployment rate = 5.9%, below the national average of 6.1% (December 2014, seasonally adjusted).
- Highest quality office infrastructure: renting Grade A office space in central Sydney costs substantially less than New York, Hong Kong, Beijing, London, Tokyo, Paris, New Delhi and Moscow.
- 45 out of 47 of the regulated international banks and subsidiaries in Australia have headquarters in Sydney.
- More than $52 billion worth of private business investment was recorded in NSW in 2013-14.
- NSW has recorded real average increases of 4.5% per annum in business investment in the 10 years to 2013-14.
- Australia is ranked among the 15 most attractive foreign direct investment destinations in the world in the United Nation's last six World Investment Prospects Surveys of transnational corporations.
- NSW has more multinational headquarters than any other state and is home to the Australian Securities Exchange (ASX) and Reserve Bank of Australia.
- Close to half of Australia's top 500 companies are based in Sydney.
- 33% of Australia's new company registrations are in NSW.
- Sydney is Australia's finance and business capital.
- Australia has the third largest pool of funds under management in the world.
- Sydney consistently ranks within the top 10 cities in the world for quality of life.
- Sydney is currently experiencing a building boom.
- It only takes 2.5 days to register a private company.
Interested in opening an office in Sydney or NSW?
NSW Trade & Investment provides assistance to companies considering investing in Sydney and NSW contact us to speak to one of our business advisors.
Read more about investing in Sydney and NSW.