Business & economy
Sydney is recognised as Australia’s only global city and the leading knowledge-based region in the nation.
Why we’re doing this
Sydney is home to Australia’s largest local economy. Before the pandemic it generated more than $138 billion a year (2019). As Australia’s global gateway our economy plays a significant role in supporting and influencing economies far beyond our geographic boundary. It is important our economy is thriving and ready to meet the challenges and opportunities of the future.
The City of Sydney is responsible for strengthening our local economy through strategically targeted economic development to ensure Sydney is ready for the future.
Under our 10-year economic development strategy published in 2013, we’ve actively supported businesses, workers, residents, students, visitors, investors and other participants in our local economy.
In the decade before the pandemic, the city’s gross regional product (GRP) increased by 65.2%, the number of local jobs grew by 28.5% to around 519,000, and the number of businesses rose by 23.9% to more than 24,000. This success was built on our comparative advantages in many key areas.
Since the pandemic the economic environment of the city has been changing rapidly. While our local economy continues to recover, businesses adapt to the new normal and explore new growth opportunities, we are preparing a new economic development strategy. The new strategy will help the city to transition to a strong and resilient economy.
We’ve released a discussion paper to support our preparation of the next economic development strategy. This strategy will strongly align with our long-term vision set in our community strategic plan.
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City of Sydney News
NewsEnjoy another serving of outdoor diningAlfresco dining scheme extended until end of 2024.21 March 2023
NewsReady, set, grow: business innovation program applications now open Take your business to the next level and join our free innovation accelerator program.13 March 2023
NewsIndustry leaders come together to help businesses thriveOur free Reboot webinar series returns with some of the biggest names in Australian business.27 February 2023
NewsBusiness confidence bounces backOur yearly survey unveils key insights into emerging trends, challenges and opportunities.1 December 2022
NewsAlfresco dining fees waived until 2025Eating outdoors is back on the menu for business.22 November 2022
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NewsVivid Sydney local business programLearn how your business can get involved with the Vivid Sydney local business program.13 October 2022
NewsNew events, innovation and environmental grants are openWhat you need to know about our latest round.29 August 2022
NewsPromote your business at Christmas in the CityWe invite retailers to provide pop-up events and activities on Pitt Street Mall and George Street during Christmas in the City.22 August 2022
NewsSydney Streets is back for 2023Here’s how your business can get involved.22 August 2022