A recent report by the Australian Centre for Population has projected Melbourne will overtake Sydney to become the fastest growing capital city from 2023–24.
The 2022 Population Statement forecasts Melbourne will become Australia’s largest city in 2031–32 with just over 6 million people.
Contributing to the world’s 14th largest economy, Victoria has long been a powerhouse of the Australian economy.
With economic activity and full-time employment now well above pre-pandemic levels, the state’s strong performance has been demonstrated by a $474 billion Gross State Product in 2020-21.
Melbourne’s history shows how it developed into a truly diversified economy and has welcomed investment from all over the globe and across many industries, including digital technologies, advanced manufacturing, health and life sciences, clean energy and research and development.
A hub for high quality research, Victorian universities are known for a strong culture of collaboration with industry.
Together they collaborate on research, training and education opportunities to foster a mutually-beneficial relationship that produces a deep pool of resilient, work-ready graduates.
The city has often been voted one of the most liveable cities in the world, scoring highly across a range of indicators such as stability, healthcare, culture and environment, and education.
Read more about why Melbourne should be your next investment destination.