Why Sydney and NSW
Robust, vibrant and future-proofed
New South Wales has Australia’s largest, fastest growing and most diverse economy – and there has never been a better time to invest, move a business or start a new enterprise here.
The state is already home to some of the world’s most creative and innovative businesses. And the NSW Government has created a new era of opportunity with its State Infrastructure Strategy, pouring A$80 billion into infrastructure projects in the four years to 2020. This capital works program, the largest in the state’s history, is improving transport links, revitalising cities and suburbs, and increasing the availability of state-of-the-art health and education services.
Most importantly, the NSW Government is building the Western Sydney Aerotropolis, a global business gateway and high-tech precinct near the new Western Sydney Airport. This transformational project will ensure the future prosperity of Sydney and NSW.
Situated on the doorstep of Asia, NSW is a regional powerhouse. Its gross state product (GSP) was almost A$557.9 billion in 2016–17, representing almost 33% of Australia’s gross domestic product. The state boasts uninterrupted growth since 1991 – and faster growth than 27 OECD nations. It also has a triple-A credit rating from Standard & Poor’s and Moody’s, record business investment, low unemployment, and a stable political and regulatory environment.
Government and private sector investment are placing NSW at the forefront of research and development in the biotechnology and renewable energy sectors. In addition, NSW has more startups than any other Australian state.
For the latest information about how NSW and Sydney are rated on the national and international stage, see the NSW Department of Industry’s fact sheet
Sydney: A global capital
Sydney has a high concentration of investment and a proven track record of strong government support.
It is a world-class centre for knowledge-based businesses in sectors such as financial services and banking, information and communications technology, legal and management services, accounting and education.
Sydney is home to more than 600 multinational companies. In addition, 43 of Australia’s 53 local and foreign-owned banks have their headquarters in the city, while more than 60% of Australia’s regional information and communications technology headquarters and operations centres are also located here. Businesses that invest in NSW have access to prime industrial properties, excellent distribution centres and high-quality transport infrastructure.
Regional economy of NSW
Regional NSW has the largest and most diverse regional economy in Australia. It is home to about 2.9 million people, representing 41% of the NSW population, and contributes around A$138 billion (almost one-third) to GSP.
Regional NSW is rich in resources, talented labour and successful businesses, and the costs of doing business here are lower than those in major cities. It offers an abundance of opportunities in sectors such as mining and resources and agribusiness and food, and its diverse industries and well‑serviced locations make it a particularly attractive place to do business.
The NSW Department of Industry works with businesses and communities in regional NSW to grow regional economies and local jobs.
In partnership with Austrade, the NSW Government also supports local exporters and potential exporters through its TradeStart program. The program funds a team of export advisers spread across regional NSW.
The NSW Government recently released a prospectus of opportunities for investment in regional NSW. For more information, visit investregional.nsw.gov.au
A hub for multinationals
More than 600 multinational companies have made NSW, and especially Sydney, their regional headquarters due to the state’s:
- Economic growth
- Financial and professional services
- World-leading infrastructure
- Diversity of sectors and skills
- Government support
- Cultural richness
Businesses and investors can also take advantage of:
An attractive investment destination
NSW stands out from other Australian locations as an investment destination because of its diverse economy. Almost 90% of industry income is generated from services, and NSW boasts the largest manufacturing sector in Australia.
Australia was ranked ninth in A.T. Kearney’s 2017 Foreign Direct Investment Confidence Index. It has been in the top 10 in the index for seven years straight.
Overall, Australia is ranked 10th among the world’s top investment economies, according to the World Investment Prospects Survey 2014–2016 by the United Nations Conference on Trade and Development (UNCTAD).
In UNCTAD’s last five surveys of the largest transnational corporations, the executives interviewed said Australia is popular as an investment destination due to the size of the local market, access to natural resources, high-quality infrastructure and stable business framework.