New South Wales is the most populous state in Australia, with a population of about 8 million1. NSW has highly diversified industries ranging from manufacturing, mining, agribusinesses to biotechnology and information communications technology (ICT). The state is also renowned for its world-class professional services offerings, with 90% of international banks operating in Australia having their headquarters in Sydney. The city is home to more than 60% of Australia’s regional ICT headquarters and operations centres. As the capital city, Sydney is also a global city and a leading destination for large multinational companies to set up their Australian headquarters. Its key industries include advanced manufacturing, defence and tourism, international education and professional services.
1 Australian Bureau of Statistics, 2019
Victoria has a population of 6.5 million2 and is one of the smallest states in terms of land mass, making it the most densely populated state in Australia. Melbourne, the capital city, is regarded as one of the world’s most liveable cities and a major headquarter for foreign-owned businesses. Melbourne is seeing growth in the new, knowledge-based industries such as creative industries, digital technologies, medical technologies, new energy technologies, pharmaceuticals and professional services. Its key industries include food and agriculture, advanced manufacturing, health and biomedical, international education, professional services, and tourism.
2 Australian Bureau of Statistics, 2019
Home to some 5 million3 people, Queensland has a stable economy that has exceeded the national average growth rate for the past two decades. Brisbane, the capital city, and its surrounding areas are some of the fastest growing regions in Australia. The state is also recognized by the World Bank as a global innovation hotspot. Construction, health services, mining and manufacturing are the largest contributors to gross state product. Over the past decade, strong growth has been seen in industries including education and training, healthcare services, and professional, scientific and safety services.
3 Australian Bureau of Statistics, 2019