Consumer and business markets

Melbourne is at the heart of sizable and growing markets

Melbourne population and consumer markets

Melbourne has overtaken Sydney to be Australia’s largest city - with a total population of over 4.9 million people (by Significant Urban Area)⁷. And, Victoria has over 6.9 million people⁷. Over the last decade, Melbourne has experienced unparalleled growth, adding more than one million⁷ residents.

This population growth contributes to a diverse and affluent consumer base with strong demand for a wide range of goods and services.

Victoria in Future shows Victoria remains the fastest growing state in the country with our population expected to reach 10.3 million by 2051.

Melbourne offers premium access to sizable and growing business and consumer markets. Its cosmopolitan culture, strong economy and high quality of life make it an attractive destination for both businesses and residents alike.

Market highlights

Australia is home to over 27.1 million people and an economy valued over US$1.7 trillion². It offers businesses located in Melbourne seamless access to the entire Australian market.
Melbourne is located in the heart of the south-east triangle, a concentrated area of 62% of Australia’s economic activity³ and 68% of the population⁴.
Melbourne is Australia’s largest city with over 4.9 million people (by Significant Urban Area)⁶.

Strategic location

We sit in the middle of the Australian south-east triangle - a heavily concentrated area of economic prosperity.

Map - South East Triangle. Australia market size, Australia Economic Activity

On our doorstep is the Asia Pacific region, home to over 4.7 billion people¹ and a total economy of over US$38 trillion.²

We have identified Australia as a growth region, so we’re investing heavily by establishing Melbourne as our regional headquarters.
_{Matthew McCormack, former Managing Director, UST}

Learn more about Greater Melbourne’s demographics.

Business markets

Access over 2.5 million Australian businesses, with 39% being employing businesses.

Melbourne has a strong reputation for innovation and entrepreneurship. The city's universities and research institutions foster a culture of creativity and innovation, attracting tech startups, biotech companies, and other knowledge-based businesses.