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
Canvassing success: How an award-winning artist took her gallery to the next level Overcoming cashflow hurdles, connecting with a network of entrepreneurs and diversifying to reach new heights.19 December 2023News
How your business can get involved in Sydney StreetsThe popular outdoor street events are back this summer.8 December 2023News
Ready, set, grow: business innovation program applications now open Take your business to the next level and join our free innovation program.6 November 2023News
New tech hub takes climate action to new heightsVisionaries, innovators, and investors to tackle global challenges from the heart of the startup ecosystem.3 November 2023News
How’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 2023News
Take a survey about your experience of Sydney WorldPride and Mardi GrasLocal business support over the festival season was incredible - share your feedback.11 April 2023News
Business confidence bounces backOur yearly survey unveils key insights into emerging trends, challenges and opportunities.1 December 2022News
Alfresco dining fees waived until 2025Eating outdoors is back on the menu for business.22 November 2022News
Be an official Sydney New Year’s Eve 2023 photographerUp to 6 applicants will capture the program of events.1 August 2022News
Run the Victoria Park Pool cafeApplications are open for expressions of interest to manage and operate the spot.19 July 2022