Officially the best place for business in the Asia-Pacific
As a business destination, Adelaide is very hard to beat. Between its central location, burgeoning tourism industry, thriving private sector, and proactive business support from local and state governments, it has become one of Australia’s most profitable cities for business and investment.
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Indeed, in their 2016 Competitive Alternatives Report, KPMG detailed the business cost factors in more than 100 cities across the Asia Pacific, and ranked Adelaide as the most competitive place to do business in the entire region.
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Naturally the city’s convenient location and its function as state capital played a part in that ranking. It affords easy access to the Asia Pacific region, and it’s at the heart of the state’s civic, cultural and commercial life. Thanks to thriving retail, tourism, education, health, professional services, entrepreneurial, commercial and residential property development sectors, it generates around one fifth of South Australia’s Gross State Product.
Its world-class infrastructure was also key; Rundle Mall, the Riverbank Precinct, the SA Health Biomedical Precinct, Adelaide Oval and Footbridge, and the Adelaide Convention Centre have all helped enhance the city’s vibrancy and have attracted a great deal of interest from businesses and investors.
Together the South Australian State Government, through Investment Attraction South Australia, and City of Adelaide are actively pursuing interstate and international business and investment. We’re reducing red tape, enhancing policy and regulatory support for investors, and can provide direct funding to individual projects and the infrastructure that enables them.
The Adelaide economy is transforming from one reliant on traditional manufacturing and mining to one built on innovation and knowledge-based industries. Adelaide has also committed to becoming the world’s first carbon-neutral city by 2020, and invites and encourages innovative investment. In addition, Adelaide has a strong focus on the research and development (R&D) and digital services sectors.
$3.5+ billion in major CBD development works currently underway:
- Casino redevelopment, $250 million
- Festival Centre expansion, $400 million
- Adelaide Oval, $535 million
- New Royal Adelaide Hospital, $1.85 billion
- South Australian Health and Medical Research Institute, $200 million
- Victoria Square, $24 million and
- Rundle Mall master plan, $30 million
This focus is clearly reflected in government’s proactive support of tech startups. Take the brand-new Adelaide Smart City Studio, for example. If you’re an entrepreneur or innovator, you can take up residence in the Studio, and enjoy unfettered access to Cisco’s latest TelePresence video conferencing technology, which will enable you to quickly and easily collaborate and share knowledge with anyone, anywhere in the world.
What’s more, City of Adelaide and the State Government are working together to double the CBD's population within 15 years - from 25,000 to 50,000. A goal which, considering Adelaide’s excellent liveability, should be very achievable. The Sunday Times (UK) and New York Times (US) recently listed it as a top city for liveability and a top travel destination.
The net result is an urgent need for more development, infrastructure and services, leading to an increase in high value-adding industries and sustainable jobs, and significant opportunities in entrepreneurialism and innovation. All in a city where people actually want to live and raise a family.
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