SYDNEY Australia’s global city
June 2010 FOREWORD
This report outlines the strengths and weaknesses of Sydney, economically as Australia’s global city. Business prowess, intellectual capital, infrastructure to service business and social needs and an enviable lifestyle are the hallmarks of a global city – Sydney has all of these in varying degrees.
There is no doubt that the challenges we face today draw our attention away from the positives that make Sydney a city that is the envy of other international cities. We should continue to build on our strengths but not forget to work on reducing our weaknesses as well.
No city is perfect, all cities face challenges in telecommunications, government regulation, congestion and transport, housing affordability, and lifestyle, but as this report reveals Sydney’s positives far outweigh any negative.
This report should only embolden Sydney to grasp the opportunity to be a gateway for the emerging economic powerhouse of the Asia-Pacific region.
The world is changing. The cities that were once the powerhouses of business and finance are moving closer to our home. Sydney can be a city of opportunity that capitalises on this change.
We hope that this report will remind us of the great advantages we take for granted, that have made Sydney the envy of others, and the opportunities that lay at our doorstep.
The Hon Patricia Forsythe Executive Director Sydney Business Chamber CONTENTS 01 02 03 Introduction Business Environment Transport Infrastructure page 04 page 08 page 11 04 05 06 Human Capital and Innovation Liveability Governance: bringing it all together page 14 page 17 page 21 07 A Conclusion Appendices page 22 page 23 01 Introduction
Scope and Objective. What is a global city?
Sydney Business Chamber has asked The term global city alludes to power, Yet many of these would not necessarily PricewaterhouseCoopers (PwC) to sophistication, leadership, wealth, influence be classified as global in nature. examine the current strengths and and global interconnectedness. Second, no global cities exists in isolation. weaknesses of Sydney as Australia’s To be called a global city means that Rather, these cities are the hubs or leaders global city. This work follows the 2008 activities and ideas stemming from the city in a network of centres that facilitate Sydney Business Chamber and PwC have the ability to shape the world. investment and social development. study, Asia Pacific Cities of Opportunity, Hence, it is the level of integration into this which benchmarked Sydney’s business Although there is no concrete method network which defines the extent to which readiness against other leading cities to assign this title to any one city, it is a city can be classified as global. in the Asia Pacific region. While the undoubtable that centres such as New 2008 report concentrated on a range of York and London can lay claim. Assessed Third, there is no single policy which can Sydney’s competitor cities in the Asia as individual metropolises, these two lead to the emergence as a global citiy. Pacific, the current report turns inwards to cities have a strong international image Rather, becoming a global city is the ask what Sydney can learn about areas of that encompasses diverse cultural events, cumulation of numerous smaller policy strength and areas requiring development dynamic populations and commanding goals which, through effective, integrated by looking at its performance against business and financial clout. It is planning and management, have other global cities. therefore possible to make a number achieved a high level of innovation and of broad observations about the nature implementation of global best practice. of global cities. Accompanying these broad observations, First, the idea of global city is tied more there are a number of specific attributes closely to function than size. Indeed, global that current the literature1 ascribes to population growth and urbanisation during global cities. These attributes combine to the 21st century has spawned the rapid rise integrate a city into the global network. of ‘mega cities’ – generally defined as those Generally, these attributes include: cities with more than 10 million people.
1. Appendix 1 contains a list of current literature examined during the completion of this report
4 | Sydney Australia’s global city ...the idea of global city is tied more closely to function rather than size. Indeed, global population growth and urbanisation during the 21st century has spawned the rapid rise of ‘mega cities’
• Business prowessess, which infrastructure thathat is able to reduce These reports provide a wealth of encompasses the existencestence of globally congestion anda facilitate productivity, comparative knowledge, but very little significant businesses and theireir activity through to reliable healthcare and city specific analysis. Therefore, drawing on an active stock exchange. Industry power generation facilities. While many these numerous reports together, Sydney and business concentration adds to of these assets often exist out of the Business Chamber and PwC took a step the provision of services within the public eye, their existence and reliability back and asked: what do all the findings of city, and are influenced by government is crucial to the everyday functioning these reports imply about Sydney and its activity and the hosting of significant of the city. emergence as a global city? world events, such as trade forums or • Enviable lifestyle characteristics, Since most of these reports examine major sporting events. which include renowned cultural characteristics identified as desirable • Intellectual Capital, including the institutions and environmental for global cities, we have used the combined number of renowned assets. These assets not only attract characteristics or attributes of a global universities and research centres, skilled workers and human capital city (discussed previously) as a framework which can contribute to the diversity but also enhance the lifestyle of in which to identify where Sydney’s of knowledge and human capital. current residents. inherent strengths and weaknesses lie. The degree of international diversity Every year a plethora of reports aim within a city is indicative of the After making this identification we asked to use criteria under similar headings desirability and ease to transfer from what can be done to address these and track the development, or rank other international centres. weaknesses and build upon our strengths. the prowess, of a city relative to its In answering this, attention was not • Adequate Infrastructure to service international counterparts. Definitions, focused on specific policies; rather the business and social needs. aims and methodologies differ significantly role of governance was identified as the This requirement ranges from the among reports, as does sample size long term enabler that ensures all current information and transport networks and composition. and future weaknesses can be addressed which support business, mass transit in a comprehensive manner.
Sydney Australia’s global city | 5 Our Methodology Sydney’s emergence as a global city
In order to identify Sydney’s current Research indicates that Sydney is already Some of the findings gleaned from these strengths and weaknesses, its relative perceived as Australia’s only global city reports align with expectations. For ranking was calculated from each of the and first point of call for business and example the fact that Sydney excels in numerous annual publications. A full tourism.2 However, Sydney’s growing liveability is well documented, with the city list of these publications can be found prominence in the global network of perceived as one of the most physically in Appendix 1. This relative ranking cities has been a relatively recent affair. attractive in the world, with good access indicates Sydney’s overall performance As noted by Scott Baum (1997) the to a range of cultural and lifestyle assets. when compared to other international growth in Sydney’s presence is the On the other hand, transport infrastructure centres included in the study, and allows result of improving information and is consistently portrayed as a weakness. for consistent scoring across reports that product network flows that are The lack of investment in public transport have differing sample sizes. gradually shifting eastward. infrastructure, combined with a reliance on motor vehicles are key areas where The relative rankings were then grouped No longer is the Western Hemisphere the Sydney under perfoms compared to many around the characteristics of a global city dominant region in economic and political leading international centres. discussed previously, with an average affairs: the continued growth in China, taken to produce a score. Consistently South East Asia and India, paired with the However, it is the contrary nature of high scores highlight strengths, while weakening in the USA and Europe from other findings within some of these comparably low scores identify areas of the global financial crisis, has accelerated categories which throw into sharp relief potential opportunity for Sydney to focus this shift east and enhanced Sydney’s not only differing perceptions of success upon. For example, a city ranked number prominence as a gateway to this region. and influence, but also the nebulous one by all reports for a certain attribute understanding on what attributes Figure 1 displays the overall performance would receive a score of 100 while a city constitute a successful, modern, of Sydney on four broad categories, which was consistently ranked last would global city. each composed of several indicators receive a score of 0. However, it should discussed therein. be noted that because an average of the relative ranking in all reports is used, achieving scores at these extremes would not be expected.
2. Brand Sydney, 2010.
6 | Sydney Australia’s global city Figure 1 Sydney’s Strengths and Weaknesses
Weakness Strength
Liveability 72.0
Business Prowess 62.0
Human Capital and Innovation 53.0
Transport Infrastructure 39.0
Sydney Australia’s global city | 7 02 Business Environment
Perhaps more than any other measure, a city’s influence in the business world, or ‘financial clout’, is used as a marker for a global city.
Certain factors that can be used to identify • Accessibility, which refers not only to Given these growth paths it is valid the business environment in a city include: the efficiency of international transport to argue that Sydney’s opportunity to hubs, but also physical proximity to develop into a major financial centre has • Transparency of the government other prominent markets, and been more limited than some Northern and business environment, including hemisphere counterparts. Hence the activity to minimise potential corruption • Market capitalisation which refers finding that Sydney doesn’t possess in the public and private sector to the value of all listings on the city’s the same raw financial clout, measured stock exchange. • Ease of doing business which purely in capital terms (domestic market encompasses the regulatory aspects The financial clout of a city could have capitalisation), as major Northern of establishing and running a business grown steadily over many centuries, hemisphere financial centres is as has happened with many European not surprising. • Political environment, including centres. Alternatively, strategic locations the stability of governance and on major international trade routes have However, circumstances change over time. effectiveness of policy framework. acted as a catalyst in the development of Geographic distance from trade flows or While this is linked to the level of many South East Asian financial centres. time-zones has been overcome through transparency, it also encapsulates the The fortunes of all these cities expand and technology. Centres of technology around level of government involvement in the contract with the relative economic flows Sydney and favourable government business environment and taxation of the respective countries and regions to policies help to provide a high degree of global connection and e-readiness, • Presence of global firms reflects which they provide services. which highlights the ability to incorporate the number of multinational businesses and utilise technology in the business that are located in the Sydney environment. This ability to disseminate metropolitan area information effectively bypasses traditional geographic inhibitors.
8 | Sydney Australia’s global city Figure 2 Business Environment Indicators
Weakness Strength
Transparency 80.0
Ease of Doing Business 69.5
Political Environment 64.7
Presence of Global Firms 61.7
Accessibility 59.6
Domestic Market Value 35.0
Sydney Australia’s global city | 9 Over 65% of Australia’s finance activity is undertaken in Sydney City of Sydney
Australia’s emergence from the Global rate is comparable to European and lower meetings and conferences, which places it Financial Crisis has been the envy of than the United States. While the current in the top tenth of international conference the developed and developing world. regulatory environment may make starting locations. An important factor in these This period of economic uncertainly and running a business more onerous successful events is the accessibility of and volatility served to underscore the and costly compared to other centres in conference facilities in Darling Harbour to stability of the economy which has been the Asia Pacific region, these factors can world renowned tourist attractions, such highlighted as a strength by a number of be offset by the degree of transparency as the Harbour Bridge and Opera House. surveys. Furthermore, a large presence and certainty that accompany a stable These are aspects that allow Sydney to of global firms and regional headquarters political environment. This atmosphere secure 70% more business events than indicates that managers and their clients is supported by established legal Melbourne in 2008.3 However, competition expect Sydney to consolidate and build frameworks that allow businesses to for this business tourism between upon this into the future. clearly understand their current roles and Melbourne and Sydney is likely to increase implement future plans with certainty. in the future with the recent expansion of When compared to other centres conference facilities, regional development of financial significance, the level The desirability of Sydney as a destination and resourceful government initiatives in of corporate tax may inhibit some for business and tourism is significant the Victorian capital. investment. Although relatively high to to the development of the city. In 2008, Asian counterparts, the corporate tax Sydney hosted more than 64 major
3. Source: ICCA Statistics Report 2008.
10 | Sydney Australia’s global city 03 Transport Infrastructure
In both a literal and metaphorical terms, the foundation of any city rests upon the effectiveness of its infrastructure. The activities infrastructure enables and enhances are of fundamental importance to the daily operation of a city. Excellence in these areas can provide a city with a competitive edge in terms of business opportunities, fostering cultural opportunities and ultimately enhance the lifestyle of city residents.
Components to measuring When compared to other major methods. Notably, cities with higher infrastructure include: international centres, infrastructure is urban density and centralised populations often identified as Sydney’s fundamental tend to utilise more sustainable active • Commute time, which can be taken drawback. This is potentially accentuated transport methods. Interestingly, a third as a proxy for the efficiency and by the focus on transport infrastructure report ranked Sydney highly, second integration of transport systems. in many of the reports. Historic only to Singapore, in terms of congestion • Infrastructure assets, which includes underinvestment in public transport management. A high ranking would not only transport infrastructure, but infrastructure has led to a spiral of reflect a low level of traffic congestion also air transport facilities and building deteriorating commute times and capacity and provision of infrastructure and construction. constraints which inturn leads to reliance services to manage this congestion. upon private vehicles and increasing This is a slightly surprising result given • Cost of transport, which identifies traffic congestion. the majority of report findings and the the cost of public transport for the lack of any overt congestion management longest mass transport trip within city Poor sustainable transport performance measures in Sydney. However this boundaries. These costs represent rail was reflected in one report by the low somewhat contradictory finding may use, with bus transport used where rail number of mass transit miles per citizen suggest that while the morning commute is absent. and hence a reliance on private transport is a subject for much local dissatisfaction, methods – a contrast to leading European • Sustainability of transport, examines this phenomenon is shared by many and Asian centres. Other reports analyse not only the green credentials for international counterparts. the prioritisation of public transport predominant modes of transport within vis-à-vis freeways and the proportion a city, but also the ability of current of trips undertaken by non-motorised modes to meet urban spread forecasts.
Sydney Australia’s global city | 11 Figure 3 Infrastructure Indicators
Weakness Strength
Commute Time 50.0
Assets 45.0
Cost 35.0
Sustainable Transport 24.0
12 | Sydney Australia’s global city A ‘business as usual’ approach in transport will not meet the growing challenges Sydney faces in moving its people and freight...
Although Sydney’s physical beauty is becoming prohibitively expensive. • Undertaking holistic planning helps it score strongly in lifestyle and Hence, innovative courses of action which recognises the in extractable environmental amenities, it also impedes need to be explored which seek to integration of passenger and the potential to deliver infrastructure. While manage demand and ensure that freight transport sharing the same many established Western hemisphere current infrastructure is used in the infrastructure. Coordinated integrated cities have developed on a grid system most efficient manner. These include: planning and decision making that with dedicated transport corridors, spans both these two crucial transport • Adopting the Henry Review Sydney’s harbour location suggests that functions will increase the performance recommendation to price of congestion such development has not always been of both systems. and environmental externalities, possible. This has left the city reliant on discouraging inefficient use of Finally, an independent agency should key arterial links whose alignments are private vehicles during periods be given responsibility for planning and heavily influenced by natural geography. of high congestion. prioritising transport infrastructure within Sydney’s steep topography may also be a Sydney, removing decisions of such limiting factor when it comes to promoting • Considering the merit of adjusting intergenerational importance from short more sustainable transport alternatives workplace (both public and private) term political cycles. This independent such as cycling. settings which could spread patronage body should work closely with the federal from high peaks of 7.30 – 9.00am and A business as usual approach to transport independent body, Infrastructure Australia, 4.00 to 6.00pm to other times. For will not meet the challenges Sydney faces to ensure that all future transport and example, staggered start and finish in moving its people and freight. Through infrastructure decisions are founded upon times for schools/universities/offices years of underinvestment of transport detailed economic cost: benefit analysis. provide people the option of working infrastructure Sydney is nearing the point A high reliance on evidence based problem longer shifts but fewer days per week where simply increasing the supply of quantification will help to develop the best and requiring more differentiation in infrastructure to meet demand solutions for the largest problems. peak and off peak PT ticket pricing.
4. Sydney Airport 5. Sydney Ports Corporation
Sydney Australia’s global city | 13 04 Human Capital and Innovation
While a city’s foundation may rest upon infrastructure, it is built with ideas. Hence, the importance of a city to foster and attract human capital is paramount.
Furthermore, business propensity to • ‘Global universities’ is an indicative Although reports note that Sydney does generate and utilise new ideas through ranking of the number of high profile not house the worlds’ most prestigious innovation is necessary to ensure a flexible international tertiary education centres universities (for example an Oxford or a economic and social environment. Criteria in the city. Harvard), the performance of major local used to gauge human capital and the level universities consistently ranked in the top Technological innovation and intellectual, of innovation within a city include: 100 underpins the strength of Sydney’s or ‘human’ capital can be used to measure educational base. A reoccurring theme • Intellect which looks at how well a city the enhancement of a metropolitan area. is the role of universities and research attracts a diverse group of people and An inflow of international residents can centres in supporting the intellectual talent. This dimension identifies the lead to development of ‘human capital’, capital of the city. This is achieved through number of immigrants and proportion with corresponding growth in industry two fundamentally important roles. of residents with university degrees and services. This knowledge creation is facilitated by strong research and First, Universities and centres of R&D are • Innovation relating to both the educational facilities. Sydney performs in crucial in fostering local human capital. business and educational environment the top quartile of innovation cities, with Combined with a strong tertiary education conducive to innovation and creativity. innovation scores improving since 2007,6 sector, reports identified the high level of Certain aspects, such as the number of but experiences difficulty in attracting education within the local population. This people employed in high tech services key global research and development is a vital aspect for companies looking to and number of research institutions as firms. A challenge for the city is to build a skilled workforce. More broadly, well as business uptake of knowledge develop programs and incentives the level of education within a population are important. for leaders in innovation to return is correlated to its productivity and ability or relocate to the region. to influence and shape global discussion.
6. Source: 2thinknow, Innovation Cities Global 256 Index.
14 | Sydney Australia’s global city Figure 4 Human Capital and Innovation indicators
Weakness Strength
Intellect 68.4
Innovation 60.0
Global universities 58.3
Sydney Australia’s global city | 15 This influx of overseas human capital affords businesses located within Sydney superior access to a deep and diversified labour market.
Secondly, Sydney’s university and These dynamicsmics of attracting and fostering educational industry is a major factor human capital,, supported by educational in attracting human capital. For example, and research capacity,apacity, were identified as both the University of Sydney and crucial inputs to developingeveloping as a global city. Macquarie University can boast of a high An important but perhapsaps under- presence of international faculty and represented question is thee interaction students. Furthermore, all universities in between current investment in innovation Sydney outperform Melbourne in these and the future performance of a city.y aspects. A prominence of students from Investment in research and development, India, Malaysia, and China indicates that as well as innovative social policy will these countries perceive Sydney to be allow a city to weather economic cycles important in developing knowledge flows. and attract business. Indeed, increasing This influx of overseas human capital innovation in both public and private affords businesses located within sectors may have flow on effects for Sydney superior access to a deep and improving liveability. diversified labour market. The diversity of the population has also been shown to foster creativity and innovation as ideas are shared and remoulded by these diverse influences.
16 | Sydney Australia’s global city 05 Liveability
Although a broad term, the ‘liveability’ of a city is fundamental to attract residents – the building blocks of society. A city may attempt to position itself as a financial hub, but without the necessary characteristics to provide citizens with a high quality and diverse lifestyle, human capital will be limited.
Many try to classify different components • Purchasing power of citizens to buy Quality is manifested not only in terms of liveability, from physical attributes, necessary and everyday goods. This of size of dwelling but also location. such as natural environment, to more aspect relates to wage rates as well as In terms of size, the average home in intangible ‘cultural’ aspects. Our analysis inflation. Sydney is larger than the average dwelling therein encompasses the entire range. in other global cities. Many residents enjoy • Cultural aspects including support The importance of liveability is influenced housing that is in close proximity to the of the arts, entertainment and sport. by workers increasing focus on ‘work/life coast, harbour, and numerous outdoor Culture is ability of citizens to engage in balance’ and sustainability. The growing recreational spaces. High housing costs diverse activities and can be achieved emergence of environmental issues in areas close to the CBD may in fact lead through regular hosting of significant in central policy debate and business to lower transport costs, and encourage regional and international events. decision making cements this as a key more active transport methods. indicator in international city comparison. • Housing Cost referring to the cost Hence, the real question is not whether Liveability can be broken into: for an average citizen to obtain and maintain housing in Sydney house prices in Sydney are too high, • Living environment, which but rather whether these prices deliver encompasses such factors as safety Sydney residents are endowed with relative value in terms of housing quality, and accessibility to quality healthcare numerous natural environments and accessibility to lifestyle assets, exposure services. features, in close proximity to the city. to world class educational institutions and Sydney is consistently portrayed as a the ability to tap into a globally integrated • Air Quality indicated by the average city where the high residential costs are jobs market. Evidently, there is a trade annual concentrations of particulate a drawback to liveability. On the other off – these inherent high costs in Sydney matter measured in micrograms per hand, few reports consider the flip side are offset by job opportunities, enviable cubic meter in residential areas. of high cost housing – the quality that lifestyle and environmental characteristics. • Natural Environment encompassing this price delivers. access and quality of landscape features and recreational sites, such as beaches, lakes, mountains and parks.
Sydney Australia’s global city | 17 Figure 5 Liveability Indicators
Weakness Strength
Living Environment 90.6
Air Quality 90.0
Natural Environment 84.6
Purchasing Power 73.0
Culture 68.3
Housing Cost 38.6
18 | Sydney Australia’s global city It should also be noted that in relative International visitors complement and There is no doubt the astounding beauty terms, this high residential cost may be reinforce the image of Sydney as a of the Sydney landscape contributes to exacerbated by the recent price decline desirable travel destination and potential exceptional lifestyle characteristics, a fact of up to 30% in major overseas cities. residence. Sydney is the centre of the pointed out in many reports. This natural NSW tourism industry, boasting local as endowment highlights a difference to Not only does Sydney benefit from well as regional attractions. A diverse traditional measures of liveability, namely relatively high safety and low cost of collection of regional areas, including cultural attractions. Against this more healthcare services – indicating that the wineries of the Hunter Valley, natural traditional measure Sydney still performs living environment is a strength – but beauty of the Blue Mountains and well, however doesn’t possess the cultural given the high air quality and endowment Australia’s best beaches, are located depth and diversity that other Northern of natural features, the future state of in every direction from the city. Within hemisphere international centres are the environment appears to be positive. Sydney, there are over 25 tourism renowned for. Recycling programs and superior access precincts, from the metropolitan areas to green spaces will help to maintain of Sydney Harbour, Kings Cross and environmental quality. Although generally the Rocks to the Western areas of favourable, sustainability may be affected Hawkesbury and the northern beaches by the city’s limited public transport of Manly and Pittwater. provision and reliance on motor vehicles.
Sydney Australia’s global city | 19 ...when it comes to hosting major events and celebrations no other city does it better that Sydney
Sydney secured 70% more business events than its nearest Australian rival in 2008
20 | Sydney Australia’s global city 06 Governance: bringing it all together
Numerous individual policies exist which could address the issues raised in previous chapters. However, specific policies address specific needs that can change rapidly. Hence, focus should be placed on what is required to meet not only current, but emerging policy needs. This leads down the path of coordination and governance, and whether the current governance structures best serve the contemporary needs of Sydney.
The sheer weight of governance in A consolidation of LGAs would lead Sydney sets us apart from other global to greater consistency in the approach cities.7 However, the level or complexity towards planning, growth and of Governance structures is not, in itself, infrastructure. It would also provide an inherently positive or negative attribute closer alignment to the functions of for a city. Rather, it is the impact of this State government agencies. Integration governance structure upon the day-to- and cooperation between local and day running of a city, and also long-term state governments is the second area strategic planning which should be where the governance structure of discussed. Sydney could be enhanced. Developing a cohesive Three areas were identified in which Finally, at state level, the provision of key brand identity is central Sydney’s governance could be services and responsibility for strategic strengthened. First, on a local level, this direction is often fragmented across to driving Sydney’s could include the consolidation of the departments. Indeed, Sydney has all current 42 local government areas (LGAs).8 the policy instruments at this State level, Economic competivness The effectiveness of many of these but a ‘conductor’ is needed to provide LGAs has been gradually stifled by the coordinated direction. There is a role for transferral of historically local powers to independent bodies, above the influence state agencies and a tightening of revenue of short term political cycles, to advocate sources through the pegging of local matters of high importance to Sydney’s council rates. This has led to 17 out of the future, such as infrastructure provision 42 local councils in Sydney currently being and global positioning.10 financially vulnerable or unsustainable.9
7. Sydney Chamber of Commerce, Who’s Governing Sydney, 2007. 8. NSW Business Chamber, 10 big ideas to grow NSW, 2010. 9. Fiscal Star, NSW Councils: 2009 Financial Sustainability Assessments. 10. NSW Business Chamber, 10 big ideas to grow NSW, 2010.
Sydney Australia’s global city | 21 07 Conclusion
Sydney’s mantle as Australia’s only global city is related to the capacity to attract, retain and develop world class business and provide for residents. In this report, the current strengths and weaknesses of Sydney were highlighted guide future policy development and the opportunity to not only consolidate, but build upon Sydney’s position.
The key findings and implications of this an advantage few international cities nature, is incremental and occurs across study are summarised below: possess or could hope to achieve. an extended time period. It is also fair However, caution needs to be taken to comment that achieving global city • Areas identified as Sydney’s current against becoming complacent of this status is not, or as it should be, a specific weaknesses, compared to other global natural advantage. Measures can still policy goal. Rather it is an outworking of and emerging global cities, can all be be adopted to maintain and improve numerous best practice smaller policy addressed via targeted policies that access to green space, protect current achievements all contributing to this leans on global best practice. While air quality levels and the environmental desirable outcome. the task of formulating, coordinating integrity of our national parks and and delivering these policies Hence, the goal of any city should not waterways. should not be trivialised, it must be be to claim the ‘global city’ title. Rather, acknowledged that these are within The multitude of methodologies adopted address business, infrastructure and the sphere of influence of Sydney’s across reports, and variety of findings, social needs through innovative, proactive relevant policy making agencies. also suggest that there is no single and successful business, social and quality that defines a global city, or infrastructure policies is priority. Only • It could be argued that the areas policy that can be enacted to try and then will the city truly become not where Sydney demonstrates its achieve this status. Emphasis needs to only a regional leader, but a significant greatest strengths exist primarily be placed on the plethora of underlying contributor to global networks. outside the sphere of policy influence. attributes, preconditions, strengths and Natural endowments, from beaches weaknesses to identify where progress though to the climate, afford Sydney can be made. This process, by its very
22 | Sydney Australia’s global city A Appendices
The reference materials used in this analysis include:
2thinknow Global Innovation Agency (2009) Innovation Cities Program RMIT (2007) Global University City Index Anholt–GfK Roper City Brand Index (2009) Siemens (2006) Study of Worldwide Quality of Life City of London (March 2009) Global Financial Centres Index 5 Transparency International (2008) Corruption Perception Index City of London (September 2009) Global Financial Centres Index 6 UBS (2009) Prices and Earnings: A comparison of purchasing power around the globe Economist Intelligence Unit (EIU) (2009) Most Liveable Cities UBS (2009) The most expensive and richest cities in the world Foreign Policy (2008) The 2008 Global Cities Index World Economic Forum (2009) The Global Competitiveness Frontier Centre for Public Policy (2010) Demographia International Report 2009-2010 Housing Affordability Survey: 2010, Ratings for Metropolitan Markets Sydney Business Chamber (2010) 10 Big Ideas to Grow MasterCard Worldwide (2008) Worldwide Centers of Commerce Index Sydney Business Chamber (2007) Sydney First, MasterCard Worldwide (2007) Worldwide Centers of Commerce Index Who’s Governing Sydney? Mercer (2009) Quality of Living Report The Committee of Sydney (2010) Global Sydney: Challenges Metropolis (2008) Urban Transport Sustainability and Opportunities for a Competitive Global City accessed at
Sydney Australia’s global city | 23 Contacts
Sydney Business Chamber thechamber.com.au Level 12, 83 Clarence Street, Sydney NSW 2000 Australia Tel +61 (2) 9350 8100 Fax +61 (2) 9350 8190 Sydney Business Chamber is part of NSW Business Chamber and together we represent 22,000 businesses across the state, including 120 local Chambers of Commerce. The Business Scott Lennon Chamber is a member–based organisation, which includes Partner, Economics and Policy many Sydney–based corporations and institutions. PricewaterhouseCoopers Australia pwc.com.au 201 Sussex Street, Sydney NSW 2000 Australia Tel +61 (2) 8266 2765 Mob +61 416 156 615
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