What Sydney needs to do in the Asian century
The Australian city must not lag behind in terms of quality of life and connectivity, says demographer
With Asia home to half the world’s middle class by 2020, neighbouring cities will have to make the necessary adjustments in quality of life and connectivity, according to Australian demographer Simon Kuestenmacher.
Sydney, in particular, must keep abreast of global infrastructure and liveability standards to cater to economies in Asia, which will be larger than the rest of the world combined in the next decade.
“In the knowledge-driven global economy, businesses will increasingly choose to establish offices in locations that are considered safe, liveable and well-connected-digital infrastructure in Sydney must not lag behind its global competitors,” advised Kuestenmacher via Xinhua.
More: After Australia, acclaimed designer sets sights on Thailand
“Fast internet, a truly interconnected and smooth transport network and affordable housing will be key to attracting top global talent.”
Sydney Lord Mayor Clover Moore concurs, saying businesses in the New South Wales metropolis need to engage with commercial and investment opportunities in Asia as well as the supply chains that cut through the region.
“A growing number of Australian jobs depend on the demand from Asia, so it’s imperative that Sydney works together with neighbouring cities to create smart, sustainable, and global economies with a high quality of life,” Moore said.
Sydney is a “prime location” for tourists and business professionals alike, Kuestenmacher added.
Recommended
Why everyone is moving to Selangor and Johor: Malaysia’s real estate comeback
Malaysia’s upturn in fortunes is especially prevalent in secondary destinations such as Selangor and Johor
Penang’s silicon boom: How the US-China tech war is supercharging local real estate
Penang’s booming semiconductor industry has created ripples within the local real estate sector
New leader, new opportunities: How Hun Manet is shaking up Cambodia’s real estate game
Hun Manet is overseeing decent economic growth and widening access to the country’s real estate market for foreigners
Singapore embraces inclusive housing reforms amid resilient demand
The Lion City’s regulatory strength continues to exert appeal for international investors