Australia's No. 1
is home to Australia's busiest seaport with international freight as an important industry.
The city's port handles more
than $75 billion in trade every year and 39% of the nation's container
Australia's automotive industry which include
Ford and Toyota manufacturing facilities, and the
engine manufacturing facility
of Holden is based in Melbourne.
It is home to many other manufacturing industries.
also a major technology hub, with an ICT industry that employs
over 60,000 people (one third of Australia's ICT workforce), has a turnover of $19.8 billion and
export revenues of $615 million.
retains a significant presence of being a financial centre for Asia-Pacific. Two of the big
four banks, NAB and ANZ,
have their headquarters in Melbourne. The city has carved out a niche as Australia’s leading
centre for superannuation (pension) funds, with 40 per cent of the total, and 65 per cent
of industry super-funds. Melbourne is also
home to the $40 billion-dollar Federal Government Future Fund.
Melbourne rated 34th within the top 50 financial
cities as surveyed by the Mastercard Worldwide Centers of Commerce Index (2007), between
Barcelona and Geneva, and second only to Sydney (14th) in Australia.
an important role in Melbourne's economy, with approximately 7.6 million domestic visitors and 1.88
million international visitors in 2004. In 2008, Melbourne overtook
Sydney as the nation's leading tourism destination.
The city is
headquarters for many of Australia's largest corporations, including five of the ten largest in the
country (based on revenue) (ANZ, BHP
Billiton, the National Australia
Tinto and Telstra); as
well as such representative bodies and thinktanks as the Business Council of
Australia and the Australian Council of Trade Unions.
major infrastructure projects, such as the redevelopment of Southern Cross
Station (formerly Spencer Street
Station), have been centred around the 2006 Commonwealth Games, which were held in the city in March
2006. The centrepiece of the
Commonwealth Games projects was the redevelopment of the Melbourne Cricket
Ground, the stadium used for the opening
and closing ceremonies of the Games. The project involved rebuilding the northern half of the
stadium and laying a temporary athletics track at a cost of $434 million.
More recently, EastLink the new tollway between
Mitcham and Frankston connecting the Eastern, Monash and Frankston Freeways, and
bypasses more than 45 traffic lights was completed.
also been attracting an increasing share of domestic and international conference markets.
Construction began in February 2006 of a $1 billion 5000-seat international convention centre, Hilton Hotel and commercial
precinct adjacent to the Melbourne Exhibition and Convention Centre to link development
along the Yarra River and the Southbank precinct and multi-billion
dollar Docklands redevelopment.