Melbourne is projected to be the fastest growing capital city from 2023–24 and is set to become the nation’s most populated city by 2032.
Our city forecasts have been independently reviewed and we are confident Melbourne is set to deliver:
- $150 billion Gross Local Product by 2031, a massive increase from our record $104 billion economy in 2019.
- 600,000 jobs by 2031, an increase of more than 100,000 pre-pandemic.
- 270,000 residents by 2031, an increase of almost 100,000 from 2020.
Invest Melbourne will allow you to harness this prosperity, connect you with the right people at the right time, and achieve business success.
Five great reasons to invest in Melbourne
1. Strong, stable and diverse economy
Melbourne represents only 3 per cent of Australia’s total land mass, but accounts for nearly 25 per cent of Australia’s Gross Domestic Product (GDP).
We boast a truly diversified economy and attract investment from all over the globe across many industries, including digital technologies, advanced manufacturing, health and life sciences, clean energy and research and development.
2. A city of knowledge with access to talent
Melbourne has a workforce of more than 2.5 million people, and is home to 50 per cent of the nation’s leading universities including Melbourne University, Monash University, La Trobe University and RMIT.
Thirty per cent of international students study in Victoria and Melbourne leads the nation in yearly graduates of technology, business, engineering, education and health qualifications (under-graduate and post-graduate studies).
3. Competitive business costs
The cost of doing business in Melbourne is highly competitive to other eastern-seaboard cities, such as Sydney and Brisbane, boosting your business case feasibility.
Locating in Melbourne provides you access to substantial cost of doing business benefits, including staffing, occupancy, utilities, costs of living and more.
4. Accessible location
Melbourne is a leading capital city within the GMT+10 time zone. This positions Melbourne at the heart of a time zone region (two hours either side of GMT+10), that spans across Shanghai, Singapore, Hong Kong, the Philippines and large parts of Southeast Asia.
Melbourne is Australia’s freight and logistics hub and has several multi-modal logistics centres. We are home to Australia’s largest container port in both size and quantity, largest public transport system, most advanced road and rail infrastructure and Australia’s largest curfew-free freight and passenger airport connecting your business to the world 24 hours a day, seven days a week.
5. Quality of life
Melbourne ranks among the safest cities in the Asia-Pacific region, and is one of the most liveable cities in the world.
Melbourne is one of the most cosmopolitan and multicultural cities in the world with people speaking more than 260 different languages and dialects. We have outstanding arts, food and wine, Australia’s best shopping, and diverse sporting and leisure opportunities. Melbourne is the nation’s events and cultural capital.