Melbourne is known as the creative centre of Australia. It is hailed as the knowledge, technology and innovation capital and simultaneously, it is popular for its cultural diversity. It is the second largest city in Australia with a population of approximately 3.4 million people. Melbourne joys a strong and growing economy, efficient infrastructure and status of a global city.
Melbourne has an economy larger than that of Singapore, Philippines and New Zealand. The State of Victoria contributes close to 25 per cent of the Australian economy. State’s current population is 5 million and is expected to reach 7.7 million in 2050. It has a comparably young population with 48 percent of the population under 35. It has achieved significant population and employment growth due to a significant increase in international investment in industry and the property market. It has highly contrasting economy with particular strength in finance, manufacturing, research, IT, education, logistics, transportation and tourism. It has headquarters of Australia’s largest corporations.
Melbourne has been rated as world’s most livable city for the fifth time in a row in 2015 as per Economist Intelligence Unit. It is also a leading financial in Asia-Pacific region. It ranks among the top 30 cities in the world in the Global Financial Centre Index. It glorifies its pride in education, entertainment, healthcare, research and development, tourism and sport.
Melbourne is expected to have 7.7 million people by 2050 and it needs 1.6 million more dwellings by 2050.
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