Projected population growth
Economy $ US billions Victoria 313 Singapore 295.7 New Zealand 181.3
Source: ABS Cat 3222.0 Population Projections, Australia, 2012 (base) to 2101
Melbourne is predicted to become Australia's largest city as early as
Size of economy in US$
Economy US$ billions Victoria 374.736 Singapore 296.966 New Zealand 185.017
Source: ABS cat. no. 5220.0, AustralianNational Account , State account 2016-17 and World bank GDP ranking table 2016
Permanent settlers to Victoria 2016/17*Back
Country Permanent settlers to Victoria 2014/15* India 9625 China 9017 United Kingdom 3525 Philippines 2094 Pakistan 1960 Vietnam 1949 Sri Lanka 1384 Malaysia 843 Ireland 755 Iran 724 Afghanistan 621 Thailand 452 United States 409 Other countries 11949
Sources: State and Territory migration summary, June 2017.
Melbourne is a thriving city of over 6.4 million people. Our population has grown faster than any other Australian city over the past 10 years.1 If trends continue as predicted, Melbourne could overtake Sydney as Australia's largest city by 2030.2
We are also the fastest growing state in Australia, recording population growth of 2.4 per cent during the year ended 31 March 2017.3 Underpinning this rapid increase is strong international migration flows into the state, with over 83,000 new migrants3 welcomed in the year ended March 2017, predominately from China and India.4 Victoria is forecast to attract an additional 2.7 million people through net international migration over the period to 2051.5
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 71 per cent of Australia's population and 70% of economic activity. The Australian south-east triangle has a combined economic output of over A$1 trillion.6
Victoria is a key contributor to Australia's status as the 13th largest economy in the world.7 A key player in the world's fastest growing region, the Asia Pacific is home to over 4.5 billion people and a combined economy of over US$27.2 trillion.8
In the year to September 2017, Victoria has seen an increase in total construction work done of $1.37 billion (up 13 per cent) while Australia has seen an increase in total construction work done over the same period of $14.3 billion (up 30.1 per cent).9
Melbourne will soon have Australia's tallest skyline, with more than 140 skyscrapers higher than 100 metres completed, planned or under construction. Melbourne has about a third more land within a 3.5 km radius of the city centre than Sydney, allowing for more development.10
- ABS, cat. no. 3218.0, March 2017
- ABS, cat. no. 3222.0, November 2013
- ABS, cat. no. 3101.0, September 2017
- State and Territory migration summary, June 2016.
- DELWP, Victoria in Future 2016.
- ABS, cat no. 3101.0, September 2017 and cat. no. 5220.0, November 2017
- IMF, World Economic Outlook Database, 2017.
- United Nations, Economic & Social Commission for Asia and the Pacific, May 2018.
- ABS, cat. no. 8755.0 – Construction Work Done, September 2017.
- Skyscraper Centre as at 6 December 2017.