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.
Action areas
Business & economy
Green economyBusiness & economy
International educationBusiness & economy
Night-time economyBusiness & economy
RetailBusiness & economy
Tech startupsBusiness & economy
Tourism
Strategies & action plans
Economic development strategy
City of Sydney News
News
Why good access for people with disability is good for businessLearn how to boost your business by creating an inclusive customer experience.13 November 2024News
Grow your business and create an inclusive customer experienceMaking small changes to include people with disability is easy and boosts profitability. It shows you care and is also the law.26 November 2024News
Laws for food businesses have changed What you need to know if you prepare and serve food in our local area.10 November 2024News
Apply to run a community market in Taylor Square northWe’re looking for applicants who can show innovation and diversity in the community.20 November 2024News
Sydney cracks world’s top 10 sustainable citiesWe jumped 19 places in the last year29 October 2024News
Be part of the SXSW Sydney restaurant guideConnect your food and drink offers with 300,000 festival goers.29 August 2024News
Sydney’s bold vision to lead Australia’s economic future From extending light rail and revitalising local streets to supporting green tech and Indigenous enterprises, discover the key moves that will shape our city.15 August 2024News
How to get involved in Sydney StreetsMake the most of our popular street events this spring - bring your trading or dining outdoors, apply for event space, host a pop-up stall and more.6 August 2024News
What’s driving Sydney’s future prosperity?Hear from inspiring innovators at CityTalks.30 July 2024News
New Dixon Street improvement grants now openLandowners and businesses can apply to receive funding to improve shop or building frontages.5 August 2024