It’s an enviable position that Melbourne is in due to our large and growing population. We’ve welcomed significantly more new residents than any other Australian city over the past 10 years, and if trends continue as predicted, Melbourne may overtake Sydney as Australia’s largest city as early as 2030.
As a state economy, Victoria outstrips national economies such as Singapore, Hong Kong and New Zealand. Our economy generated A$343.8 billion in GSP in 2013-14.
Melbourne’s population has increased dramatically in recent times. Fuelled largely by overseas and interstate migrants, it continues to see substantial market growth and demand. In 2013, we welcomed over 62,000 permanent international migrants into the state. The top countries of origin were China, New Zealand, India and the UK.
Our growing population sits in the centre of Australia’s bustling geographic cluster, the Australian south east triangle. It’s a heavily concentrated area of economic prosperity with access to 68% of the population and 68% of economic activity.
Victoria is a key contributor to Australia’s status as the twelfth largest economy in the world—a key player in the world’s fastest growing region, the Asia Pacific, home to over4.3 billion people and a combined economy of over US$20 trillion.
Read more at invest.vic.gov.au