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.
City of Sydney News
NewsOxford Street Pride Business Charter: Strengthening local character and connections Retailers, venues and community groups set the stage and celebrate the precinct’s rich history and queer culture.29 November 2023
NewsReady, set, grow: business innovation program applications now open Take your business to the next level and join our free innovation program.6 November 2023
NewsNew tech hub takes climate action to new heightsVisionaries, innovators, and investors to tackle global challenges from the heart of the startup ecosystem.3 November 2023
NewsLaws for food businesses are changing What you need to know if you prepare and serve food in our local area.10 October 2023
NewsHow’s business? Have your say on Sydney’s needs and prioritiesLend your voice to our yearly pulse check, helping us understand trends and how we can shape future support.19 September 2023
NewsExperiences at the heart of our city’s economic growth New data shows how experiences and remote working shape our local economy31 August 2023
NewsApplications open: Business Awards 2023Celebrating the best in our area.14 August 2023
NewsApplications open: free circular economy accelerator programCalling ambitious startup founders to join the Fishburners program Circular Hub.25 July 2023
NewsEvents, innovation and environmental grants are openWhat you need to know about our latest round.25 July 2023
NewsThe best in business share secrets for brand growth and digital marketingUpskill with Justin Hemmes of Merivale, along with other Australian business leaders from Archie Rose, WINK Models, Shop You and more.18 July 2023