A Metropolis of Three Cities highlights the importance and role of the NSW Government in leading the development and coordination of development strategies to grow and globally position key sectors of the economy.
The NSW Government recognises that these sectors are important in fostering innovation in the development of highly skilled jobs which drive productivity and global competitiveness.
The strategies are being developed in consultation with industry, government partners and other key stakeholders. They build on and leverage existing industry and government activities and plans, and focus on delivering high impact practical initiatives to drive sector growth through industry, academia and government collaboration.
A Metropolis of Three Cities outlines the strategies to support industry sectors. They cover the areas of:
- industry skills and capacity building
- investment attraction
- export growth and facilitation
- industry showcasing and promotion
- opportunities through government procurement
- government and industry partnerships.
To support these strategies, Objective 24 of A Metropolis of Three Cities emphasises the need to work with internationally competitive trade sectors by considering the barriers to growth, including regulatory barriers.
The Eastern City District has emerging industry sectors that are drawn to its highly skilled workforce, high connectivity and accessibility to local and global markets and labour, as well as a range of welldeveloped, specialised business services sectors.
As Australia’s prime international gateway, Greater Sydney welcomes 30 million visitors per annum. The tourism industry contributed $15.4 billion to the economy – 4.7 per cent of Gross Domestic Product – and directly employed 74,300 people in 2014–1531. The visitor economy is growing in all areas, including business, leisure and visiting friends and family.
Visitors’ experiences are shaped by major attractions and events, by the places and facilities they visit, and by how their needs are met. Promoting links between business and leisure visits provides better experiences and has widespread benefits.
The Eastern City District is one of the world’s premier tourism and major events destinations. Approximately 8 million visitors stayed overnight in the District in 2015-16, 32 per cent of whom were international visitors. Visits to the District grew by 5.3 per cent over this same period and contributed over $8.6 billion to the District’s economy.
The District boasts assets such as Sydney Harbour, the eastern beaches, Centennial Park, Sydney Park, Cooks River and Parramatta River; vibrant urban, heritage, creative and night-time activities of Sydney CBD, Darlinghurst/Kings Cross and Newtown; and the established cultural centres of Strathfield and Ashfield. These same elements attract global talent and encourage businesses to invest.
Areas such as Marrickville, Erskineville and surrounding neighbourhoods are emerging as a focal point for boutique breweries, coffee roasters and other artisans, and there is a breadth of unique, small-scale cultural and arts experiences across the District such as the White Rabbit Gallery in Chippendale. These assets have the potential to add a new and unique face to the tourist economy.
Many of the District’s attractions can be easily accessed by high quality transport infrastructure. However, connectivity between these places is not always easy. A multi-dimensional tourist economy relies on connectivity and accessibility. Growth of the District’s tourism economy needs innovative transport and access solutions.
While the District’s tourism economy is mature, it can grow by tapping into the breadth of assets in the District, understanding and better connecting interdependencies and building diverse experiences.
Aboriginal heritage is an untapped opportunity for cultural tourism, with La Perouse a major asset to explore. Collaboration with relevant Aboriginal groups and the Local Aboriginal Land Councils will help to identify if or where they wish to share this cultural richness and strategies to implement this.
Adapting to changing technologies
Rapid technological changes and digital advancements are disrupting established business models and the workplace worldwide. These are dramatically changing the way people and goods move around, providing more efficient transport services. While technological changes can reduce demand for certain types of jobs, they also help to deliver innovation, new knowledge-intensive jobs and business opportunities. Businesses and governments must continually engage with industry, assess regulatory barriers and manage data to update governance and policies to capitalise on changes.