Victoria punches above its weight
The Victorian economy, as a state economy, is larger than most South-East Asian nations. Outstripping national economies such as Singapore, Philippines and New Zealand, in 2020-21 our state economy generated A$474 billion Gross State Product (GSP).
Source: Department of Treasury and Finance, Economic Policy Group Report (September 2022)
A low risk and stable business environment
Reflecting a stable business environment, Australia and Victoria both have one of the highest credit ratings in the world. Maintained for over ten years, the Australia credit rating is AAA, according to Standard & Poor's agency. This rating is bolstered by Victoria's consistently strong economic performance, good financial management and a supportive national and institutional framework.
Australia's sound legal and governance frameworks, combined with our political stability, provides a secure investment and business environment. Australia ranks in the top 10 countries for rule of law and in the top five countries for the quality of our regulatory environment according to the World Bank's Worldwide Governance Indicators. We also rank highly for fair administration of justice and protection of property rights.
Melbourne is projected to have low economic exposure risk compared to other major and regional financial cities according to Lloyd's City Index which measures 18 economic exposure threats including market crash, cyber-attack, flood, human pandemic, solar storms, wind storms, power outages, plant epidemic, sovereign default, heat waves, terrorism, earthquakes, droughts, oil price shocks, volcanoes, tsunamis and nuclear accident.
Source: Lloyd's City Risk Index 2015-2025
Read more: One of the world's most liveable cities
Australia #1 in the Asia Pacific for women's economic opportunity1
Female entrepreneurs and businesswomen in Australia are empowered by supportive national policies, scoring highly on a World Bank Index that measures mobility, pay and parenthood. Our economic and legal environment provides a platform for women to succeed in business here in Melbourne.
Source: World Bank Women, Business and the Law 2020 | Map: Visual Capitalist
Read more: Highly skilled talent