New South Wales (NSW)
New South Wales (NSW) is Australia’s most populous state, centred on Australia’s leading global city – Sydney. People in New South Wales (NSW) enjoy a very high quality of life. Sydney, being the oldest and largest city in Australia, was rated ninth out of 215 cities in the Worldwide Quality of Life Index published by Mercer Human Resource Consulting in 2007. The city is accompanied by the iconic and dazzling attributes – Sydney Harbour Bridge and Opera House. It has a wide range of cultural life, dynamic food scene and outstanding colonial architectures. NSW offers many lifestyle advantages for business people and their families, including a relaxed way of life and friendly communities.
Employment prospects are plentiful, world class education as well as quality healthcare is readily available. Renowned for its lively and cosmopolitan city, a combination of excellent business infrastructure, transportation and telecommunications with great leisure, Sydney is definitely one of the world’s favourite cities to live in.
Economy
NSW has the largest economy in Australia, valued at $320 billion in 2005-06 and the figure accounts for about 25% of the total GDP of the country. Sydney is the economic and financial capital of the country. More than half of the head offices of Australian companies and prestigious banks are located in Sydney.
Residents in Sydney are mostly employed in business, property, community and health, and information and service sectors. The employment rate in the financial services industry in Sydney is nearly half the size of London’s and more than one-third the size of New York City’s. Generally, the unemployment rate of Sydney is comparatively low among the cities in Australia.