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Current Business Trend in Sydney

Current Business Trend in

Current Business Trend in Sydney Charlotte Snow, Josh martin Griffith University Key Terms: Business Trend in Brisbane, Economic Trend, Business Performance in 2018 Introduction Sydney is the capital city of South Wales and also considered as the Economic Centre of Australia. The economy of Sydney is showing signs of improvement since the year 2014. Major contributors to Sydney’s economy are sectors like manufacturing, B2B services, health and retails etc. In case the inflation remains under control Reserve Bank proposed not to change the interest rates to give a positive outlook about the economy to the investors. The confidence of Investors has already increased in last few years in the property market. Renting an office space is also considered to be cheaper in Sydney making it more popular with the entrepreneurs. Trend in Manufacturing Business Sydney is like a manufacturing hub of Australia. In the year 2012-13, Sydney alone had a manufacturing industry of $21 billion. Same year, manufacturing was the second largest employment generating industry of Sydney as well. It employed more than eighty-seven thousand people. Although this sector is on declining side since last few years, it still one of the highest contributor to the Gross Regional Product and a significant industry in Sydney. Healthcare This industry is the largest employer of Sydney workforce (around 9%). This industry is sub-divided into various specialized services like hospitals, general practitioner and dentists etc. With the aging workforce, this industry would need a good number of practitioners, dentists and other health workers. This also involves the health insurance sector which is highly regulated for the private sector. Jobs in this industry are expected to grow by more than 16% by November 2018, whereas forecast for revenue increase is at a compounded annual rate of 4.5%. Technology Technology is gaining much attention in Sydney and other Australian districts. Every individual, be it a kid or an adult, is seen fiddling with some or the other gadgets in their hands. People are showing interest in various social websites by uploading pictures, sharing posts and so on. This advancement has opened gates for eye care experts and products. People usually spend a good proportion of their day in

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