City Economy

Sydney is a global city—Australia's leading business and finance centre. The qualities that make Sydney one of the world’s most liveable cities also make it a great place for visitors and investors: a safe and active CBD; inner city villages that offer diverse cultural and retail experiences; housing choice, good services and community involvement.

I want our City to work co-operatively with all players – business, city institutions and residents and government – to ensure Sydney remains a competitive global city.

Economic activity across the Local Government Area is worth $65 billion, or 8 per cent of GDP and 40 per cent of Sydney’s metro economy. Sydney City has strong links to the global economy, especially to the growth nodes of East and South Asia. It houses seven of Australia’s top 10 visitor attractions, and its surrounding urban villages offer the high amenity and social cohesion that will attract new jobs and investment.

But we cannot stand still. There is much work to be done if we are to generate the momentum necessary to ensure that Sydney remains a vibrant, liveable and sustainable economic powerhouse and Australia’s first global city.

The City has embarked on Sydney 2030, a project to map where we want our city to be by 2030 and identify and plan key projects. The project aims to keep Sydney a significant global city by:

  establishing a sustainable city which leads the way in water and energy conservation;

  delivering a world-class public domain and building design;

  providing for housing and population growth while maintaining liveability, quality services and a world-class transport system; and

  building a vibrant, diverse and inclusive community, including a lively arts and cultural sector.

Leading experts on environmental planning, transport, economics and social and cultural development who will work with us to define goals and strategies. The community and city businesses will be engaged in Sydney 2030 through reference groups, forums and a new website. All the projects and programs envisaged for Sydney 2030 must include robust financial information to enable long-term planning and sound financial management for the City.

By July of this year, we expect to have a broad vision articulated. By October, at least half-a-dozen key projects will be selected, and by February next year, the program will be finalised and a Reference Panel of key city stakeholders, peer professionals and experts will be appointed to review the key stages of the program.