Sydney is the oldest, largest and considered by many to be the most beautiful city in Australia. It is the state capital of New South Wales and the most densely populated city in the country. The first governor was Captain Arthur Phillip. Greater Sydney is an important part of Australia and is well recognised globally. It is also considered to be an “alpha city’’ and is ranked seventh in Asia and eighth globally among economically innovative cities. Sydney has a population of 4.5 million people.
Industries
Considered to be a top global city, Sydney has a strong financial base. Major economic sectors include:
- Financial services
- Manufacturing
- Construction and infrastructure
- Arts and entertainment
Financial services
Around the world Sydney is recognised as a powerful financial centre. Finance is the biggest industry in this state, accounting for 46 per cent of the sector nationally. In terms of financial growth, Sydney is ranked first in Asia and second globally. Banking and insurance services contribute more than $50 billion to the state’s economy. Sydney is the home of the Australian Securities Exchange, the Reserve Bank of Australia and about 90 other banks. It has local branches of foreign banks, nine foreign subsidiary banks and other deposit-taking authorised banks. The major foreign-based authorised banks include:
- UBS Australia
- Deutsche Bank
- Mizuho Corporate Bank
- HSBC Bank
- Citigroup
These financial institutions provide a reliable job market for the highly educated, multilingual financial workforce. The financial growth of Sydney is strong and there is continued investment interest in the financial sector.
Manufacturing
Manufacturing contributes strongly to the economic life of the city. It is ranked as the third-largest employment sector with more than 300,000 employees. In NSW, major manufacturing activities include agricultural, minerals, medical, pharmaceuticals, steel, processed meats, bakery products and wine. The majority of manufacturing corporations have a base or outlets within the Sydney area.
Construction
Construction is the fourth-ranked industry in Sydney and is expected to rise to second due to its solid growth performance. With continued political stability, a skilled workforce and resilient economy, construction activity is projected to grow significantly. Various local councils and the state government ensure that construction is done with adequate planning and supervision. Sydney has some of the most significant buildings in the country, with the Sydney Opera House of considered a particularly iconic landmark.
Other industries include motor vehicles, chemicals, railway and transportation equipment, petroleum products, livestock rearing (sheep and cattle) and engineering.
Convenience and leisure
Sydney offers a variety of recreational opportunities, including:
- Parks and open spaces
- Arts and entertainment
- Sport
Parks and open spaces
The city is well-known for its open spaces, waterway access and forests. There are several parks within the city as well as national parks. These include:
- Chinese Garden of Friendship
- Hyde Park
- The Domain
- Royal National Park (the second oldest national park in the world).
It also has several national parks in the surrounding metropolitan area which provide many great relaxation spots.
Arts and entertainment
If you are an artistic person, then Sydney has got you covered. Sydney has a strong cultural tradition and the arts and entertainment industry provides an excellent form of leisure. There are various performing arts facilities to visit. These include:
- Sydney Opera House
- Sydney Town Hall
- State Theatre
- City Recital Hall
- Sydney Conservatorium of Music
- Theatre Royal Sydney
These performing arts centres host many international plays by renowned playwrights. Sydney has an important role, too, as an international film-making centre.
There is also an array of places to party, with many nightclubs and bars for those who like to dance or just sit back and enjoy a drink or two with friends.
Restaurants also provide good areas for relaxation after a long day. Menus vary extensively and foodies have a wide range of cuisines to choose from to satisfy their taste buds.
Sport
Rugby is the most popular sport in Sydney, which plays host to nine of the 16 rugby teams represented in the national rugby league competition. In summer, cricket takes over in popularity. ANZ stadium and the Sydney Cricket Ground (SCG) play host to various cricket events. The SCG hosted the 1992 Cricket World Cup and is in line to host the same event in 2015.
Soccer is another important sporting option. Sydney is represented by the Sydney Football Club in the national competition. Sydney also has two teams in the Australian Football League: the Sydney Swans and Greater Western Sydney. Other sports include netball, baseball, hockey, yacht racing and horse racing. The most notable sporting facilities are the SCG, Eastern Creek Raceway, Rosehill Gardens Racecourse, Sydney Football Stadium and Royal Randwick.
Conclusion
Sydney is a world-class cosmopolitan city with a strong economy and good job prospects. Many industry sectors flourish in the city and suitably qualified people are always in demand.
