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      Australia's Enterprising Cities

      KPMG’s second edition of the Enterprising Cities report explores recent economic growth trends for 12 of Australia’s most rapidly evolving cities.

      Despite recent economic headwinds , we’ve seen these Enterprising Cities show remarkable resilience, thanks to robust local communities and unique physical and natural strengths. With advances in technology they’re poised for further growth, but to do so, they must navigate challenges including regulations and capital and talent attraction.

      Discover how these vibrant centres, home to nearly 10 million people, are set to shape Australia’s economic future by transforming businesses and meeting the needs of their evolving populations.

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      Enterprising Cities

      Find out how these enterprising cities are shaping Australia's future growth
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      Where are the Enterprising Cities?

      Enterprising cities map –Australia (2024) – Mobile

      How Enterpising Cities are performing

      • Population – 9.6m

        2.5% growth

        Enterpising Cities house a population of almost 10 million, representing 36% of Australia's population

      • Workers – 5.2m

        3.9% growth

        37% of Australian workers live in Enterprising Cities, increasing by 3.9% during 2023 compared to 2.9% for the rest of Australia

      • Unemployment rate – 3.7%

        6.6% in 2020

        The unemployment rate has dropped to 3.7% compared to 6.6% in 2020

      • Participation rate – 68%

        2.2% increase

        The participation rate has increased from 65.8% in 2020

      In recent years, enterprising cities in our regions have outpaced the national growth trend demonstrating they truly are the engine room of the nation's economy

      Naomi Mitchell

      National Managing Partner, Enterprise

      KPMG Australia

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      Find out how these Enterprising Australian cities are shaping the Nation's future growth

       

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      Enterprising Cities

      Find out how these enterprising cities are shaping Australia's future growth
      Download

      Contact KPMG's Enterprise team

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      Frequently asked questions (FAQs)

      Enterprising Cities are selected based on their significant role in Australia’s economy. They must have experienced robust growth over the past five years, driven by their multifaceted environments and entrepreneurial spirit.

      The selection of Enterprising Cities considers their economic performance, population growth, and employment rates. And, includes their ability to attract people, businesses and opportunities, plus their resilience in facing economic challenges. These cities are also chosen for their diverse industry sectors.

      The COVID-19 pandemic brought about a notable shift in Australia’s population growth, steering it away from major capital cities towards smaller cities. This migration has revitalised regional economies, impacting local and residential housing and job markets.

      Another commonalilty is their durability and adaptability in the face of recent economic challenges. Despite economic headwinds, these cities have remained resilient.

      Enterprising Cities employ over one one-third of all Australians . They have experienced robust growth over the past five years and are increasingly seen as desirable destinations, attracting people and businesses from larger metropolitan areas and drawing interest from international companies looking to establish a presence and invest in these thriving urban centres.

      Enterprising Cities house almost 10 million people (36% of Australia’s population) and they have 5.1 million workers (36% of Australian workers).

      The population grew by 1.7% during 2024 compared with 1.9% for the rest of Australia. This was mainly due to higher international migration favouring cities over regional areas.

      Enterprising Cities are emerging as centres of excellence for advanced manufacturing, focusing on renewable energy, advanced material production, aerospace, healthcare, agrifood, and defence-related industries.

      The healthcare industry is expanding due to an ageing population, rising demand for health services, increasing health consciousness, and a focus on preventive care. Professional services have also seen significant growth, offering higher wages and knowledge-based services like IT, accounting, and engineering.

      Enterprising Cities have the potential to further enhance their attractiveness to residents and businesses through strategic urban development, focusing on quality of life and talent, business and investment attraction.

      The KPMG Cities of Value framework provides a strategic tool for sustainable urban development, helping Enterprising Cities to thrive economically, socially, and environmentally.

      The number of workers in Enterprising Cities increased by 2.5% during 2024 compared to 3.0% for the rest of Australia. Job vacancies remain high by historical levels, highlighting that employers are still struggling to fill open positions, and point to ongoing strength in the labour market.

      Over the next five years, Enterprising Cities are projected to create thousands of new jobs, with specific growth in industries such as healthcare, professional services, and advanced manufacturing.