Economic Development Strategy For The City Of Sydney

This report will show an overview of the current state of the Australian economy and its management by the Federal government through examining economic indicators such as economic growth (GDP), unemployment, inflation and trade.

The process of urbanisation is a central feature of Australian history. By 1900 over two-thirds of Australians were living in areas that were classified as urban. The growth of these cities was encouraged by various factors; the interaction and engagement of economic, demographic, political and social characteristics are definitely the key features that promoted the urbanisation of Australia. However, with the development of Australia came problems that people living in cities had to face. Environmental and health difficulties were to be over come in the city suburbs while economic depression followed after a period of prosperity and progress.

The suburb of Pyrmont on the shores of Sydney Harbour has been transformed by the processes of urban renewal into a thriving cosmopolitan residential area, an efficient and sophisticated business centre, and a popular recreational and tourist hub. Through my own observation of the Pyrmont area, I have seen how the painstaking urban planning efforts for the area have come to fruition, and a focal point of the Harbour foreshore created as a result of this.

The major objectives were to improve the economic efficiency, social equity and environmental sustainability of Australia’s cities and Pyrmont-Ultimo was a targeted suburb for urban renewal. There were several areas that the program aimed to improve including housing, transport, public parks or open spaces and protection of the environment.

Sydney, centrally located on the eastern coast, is Australia’s largest and most influential city. Its multicultural nature, advanced infrastructure, state of the art technologies, scale of foreign investment and architectural ingenuity not only make for a highly desired international tourist destination but are all compelling evidence to suggest that Sydney is in fact an established city of the developed world. As in any developed city, there are a myriad of urban dynamics of change at work that have, and will continue to evolve the morphology of the Australian metropolis.

The world price of Australia 's mining exports has more than tripled over the previous decade, while investment spending by the mining segment expanded from 2% of GDP to 8%. This mining speaks to one of the biggest shocks to hit the Australian economy in generation. This paper endeavours to evaluate some of Australian economics’ effects to the mining industry, utilizing top-down analysis of the Australian economy. It will demonstrate the mining has significantly expanded Australian living standards.

How successful has the regeneration of urban areas been given the variety of ways it has been undertaken (40 marks)

PART A: Pyrmont is a bustling neighborhood with great restaurants, cafes, parks and beautiful gardens. The local government area is located in the City of Sydney and is an important part of the Darling Harbour region. Housing in Pyrmont is identified by high-density apartments, industrial high-rise buildings, affordable housing and heritage cottages. Pyrmont has a “land area of 27km per hectare” (City Of Sydney, 2014) with approximately 124 people living per hectare, showing evidence of urban consolidation and a large population in the city. The demographics of Pyrmont convey a multicultural and proficient civilization with the demographics conveying that only “39.5% residents are born in Australia” (Australian

With the population of 43,374 (2011 census) and growth rate increasing (average annual rate of 2.2%), Blacktown City is recognised to be the largest and one of the fastest growing in any Local Government Area in NSW. Anticipated to reach 500, 000 by the year 2031 from factors of urban sprawl, birth and migrants, the struggle to uphold Blacktown’s liveability is a crucial aspect in the demands of the futures security of individuals and the general publics ‘contentment which is also significant to sustain the expanding population. Effective management strategies that manage issues in relation to economics, environments and social aspects that ensure the advancements of economic prosperity, social stability, educational opportunities, cultural, entertainment and recreation possibilities must be put to plan so no consequences arise with the suspected increase of the population and managing urban sprawl.

Sydney is a world city that currently has urban dynamics operating in it. Sydney is located on the coast in the South-East quadrant of Australia. Urban Decay and Renewal is clearly evident in Pyrmont – Ultimo, a suburb located with in a kilometre from the CBD. Rhodes , further to the north west of Pyrmont, is also under going Urban Decay and Renewal. The silicon corridor is an area of places where companies have decided to suburbanise some of their office blocks due to the cheaper land. The corridor originates in North Sydney and goes in a north westerly direction from there, passing through Chatswood and North Ryde The

City area can no longer rest on its reputation as a diversified economy with a well-educated population. The region has fallen behind in growth and competitiveness compared to its peer cities and it needs concerted focus to improve.

The Australian economy is reliant on three key sectors: services, housing, and mining. The services sector employs the largest percentages of Australians – around 80 percent – and is responsible for approximately 70 percent of the country’s GDP (Australian Bureau of Statistics, 2010). With jobs in a variety of specific industries, this sector drives the success of the Australian economy. The housing sector is experiencing unprecedented growth leading to concerns over a potential asset bubble. An increase in the amount

In 2011, 20.7% of dwellings in Sydney were classified as high density. Australian cities are facing a number of challenges, including a significant growth in population, growing housing affordability crisis, a greater concern for environmental issues, transport and urban infrastructure.

The construction industry in Australia has over the recent three years provided increased employment thereby improving the economic financial performance. This has been fueled primarily by middle market construction firms. However, forecast shows that the total non-residential construction would fall between 2014 and 2016 due to falling levels of investment on project activities. The economic deficits incurred in the construction industry would be offset by investments in the telecommunication and commercial construction, especially in apartment building.

The company’s brand recognition is visible globally. It also possesses strong capital resources and has exhibited positive results to its shareholders in the past.