Economic development strategy
The overarching aim of our 10-year plan is to strengthen our economy and support business.
Related to Business & economy
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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.
- Sydney is recognised as Australia’s only global city and the leading knowledge-based economy in the nation.
- In 2018/19, around $140 billion was generated within our area representing over 7% of Australia's economy. This in turn provided over half a million jobs across all skills levels that offer diverse opportunities for our communities.
- Despite the growth of business districts such as North Sydney, Parramatta, Macquarie Park, Olympic Park and the growth corridor to the north-west, the City of Sydney has maintained its pre-eminent role. This is due to its large economic base including a dense network of globally competitive industries, well-developed infrastructure, good governance, and outstanding amenities and living environment.
- Over the past decade, our economy has proven its resilience by withstanding both internal and external economic shocks such as the global financial crisis. The number of businesses in the city grew by nearly 4,000 between 2007 and 2017. However, this does not mean our economy isn't faced with challenges that need to be addressed to maintain continued growth and Sydney’s global reputation for liveability.
- Our 10-year economic development strategy will help deliver our vision for a dynamic, environmentally sustainable economy and a liveable city that works for residents, workers, visitors and students.
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