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
Small business webinars: From e-commerce to harnessing AI for productivity and supercharging your social media Learn in your lunch hour with our free Reboot series. Join a stellar line-up of experts and business leaders from some of Australia’s most successful companies.31 May 2024News
Business Awards 2024: from innovative products, to excellence in sustainability and customer serviceCelebrating the best in our area.27 March 2024News
The not-for-profit closing the digital divide and fighting e-wasteHow a City of Sydney grant helps one social enterprise get devices to people in need.30 January 2024News
Get your business involved in Vivid SydneyLearn how you can be part of the world's largest festival of light, music, food and ideas30 January 2024News
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
Sydney’s tourism renaissanceInternational visits soar to 82% of pre-pandemic levels, led by student surge4 December 2023News
Oxford 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 2023News
Get free expert help to reduce your office emissionsJoin CitySwitch, Australia’s flagship decarbonisation program for businesses, and receive practical guides and business connections.16 November 2023