Melbourne is at the heart of sizable and growing markets

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.

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

On our doorstep is the Asia Pacific region, home to over 4.7 billion people1 and a total economy of over US$38 trillion2

Key insights:

  • Australia, home to over 27.1 million people and an economy valued over US$1.7 trillion2, offers businesses located in Melbourne seamless access to the entire Australian market.
  • Melbourne is located in the south-east triangle - 62% of Australia’s economic activity3 and 68% of the population4from Melbourne.
  • Melbourne is Australia’s largest city with over 4.9 million people (by Significant Urban Area)7.

Access growing consumer markets with Melbourne projected to be the largest Australian city as early as 2032.1

Melbourne is a thriving market. Over the last decade, Melbourne’s population has grown significantly more than any other Australian city, adding more than one million residents.

Projected to become Australia's largest city in 2032 with over six million people, Melbourne is an affluent society with strong demand for goods and services.2

1Centre for Population, 2022 Population Statement, The Australian Government

2https://www.theage.com.au/national/victoria/melbourne-to-overtake-sydney-as-australias-largest-city-by-2031-20230104-p5cab6.html

Read more:  Growing, low risk, transparent economy

Access over 2.5 million Australian businesses.

Almost 27% located in Victoria

Of those located in Victoria, 60% are non-employing businesses, 37% are small businesses employing up to 19 people, and 2% are medium enterprises employing up to 199 people. There are over 1,200 businesses employing more than 200 people.1

1. ABS, cat. no. 8165.0, 2022

Source:

  1. World Economics/Regions/Asia Pacific as Oct 2024
  2. International Monetary Fund (April 2024), World Economic Outlook
  3. Australian Bureau of Statistics (FY 2022-23), Australian National Accounts: State Accounts
  4. Australian Bureau of Statistics (March 2024), National, state and territory population
  5. Australian Bureau of Statistics (2021-22), Regional population
  6. x
  7. Australian Bureau of Statistics, 2021 Census, Greater Melbourne
  8. Australian Bureau of Statistics (March 2024), National, state and territory population