Growing, low risk, transparent economy
There are many investment options in our diverse economy
Representing only three per cent of Australia's total land mass and accounting for nearly a quarter of economic activity (23% of national GDP)1. Our strength is sustained by a diverse economy. We have a history of prosperity and growth across many industries. It's one reason why Australia was able to weather the 2009 global financial crisis and achieve its status as the 14th largest economy in the world.
Victorian service sectors have grown strongly over the last five years
Industries such as healthcare, information technology, financial services and construction have a compound annual growth rate greater than the average. Suggesting there are investment opportunities to be found in high growth service industries.
Read more: Sizable and growing market
Read more: International market connectivity
An economy larger than Singapore or New Zealand
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 2018-19 our state economy generated A$455 billion Gross State Product (GSP)1.
Source: ABS, cat. no. 5220
Australia #1 in the Asia Pacific for women's economic opportunity1
Female entrepreneurs and business women in Australia are empowered by supportive national policies, scoring 96.9 out of 100 in the World Bank Index. Although there is still room to improve, 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
A low risk, and stable business environment
Reflecting a stable business environment, Victoria is one of two Australian states to possess a triple A credit rating from agencies Moody's5. A rating we have maintained for the past ten years. This rating reflects Victoria's consistently strong economic performance, good financial management and Australia's supportive 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 storm, power outage, wind storm, plant epidemic, freeze, sovereign default, heat wave, terrorism, earthquake, drought, oil price shock, volcano, tsunami and nuclear accident.1
Source: Lloyd's City Risk Index 2015-2025
Read more: One of the world's most liveable cities