Thursday 6th July, 2017
Kindly hosted by Dexus
Global cities expert Greg Clark joined the Committee to launch our latest report Joining the Top Table: Benchmarking Sydney’s performance 2017 at the fantastic Dexus Place in the Governor Macquarie Tower. The report is an important step in the Committee’s ongoing aim of measuring Sydney’s relative performance against competitor cities around the world.
The report, published in conjunction with our principal sponsor Dexus and our supporting sponsor JLL, is an update on our First Amongst Equals report (also written by Greg Clark) updates and develops this benchmarking exercise. Professor Clark firstly explained the methodology behind the report, which draws on more than 50 indices, benchmarks and rankings published in 2016 and 2017. These different indices compare 32 cities around the world in a comparative analysis.
Clark then discussed the results, revealing that Sydney scores very highly on many of the indices, with special strengths in liveability and brand appeal. He also noted that Sydney is the 8th most ‘measured’ city in the world, providing visibility on the world stage and is among a group of contender cities with the potential to join the great world capitals of finance and culture. The emerging picture of Sydney in 2017 shows a widening appeal and credibility in terms of financial services, FDI and real estate, highlighting Sydney’s growing maturity as a global city.
However, Clark noted that the unintended consequences of growth for Sydney are now becoming starkly visible: the city’s famed liveability is under threat by cost of living pressures, declining social sustainability and a massive infrastructure backlog. These are challenges faced by many of the world’s top tier cities, and ones that will become more acute as Sydney grows to a city of 8 million people by 2056.
Greg was then joined on a panel to discuss his presentation and the report, moderated by Siobhan Toohill, Head of Group Sustainability & Community at Westpac, and also featuring Ross Du Vernet, Chief Investment Officer at Dexus; Michael Fenton, Managing Director of NSW Business at JLL; and Maria Atkinson, Commissioner of Central District at the Greater Sydney Commissioner. The four panelists all reflected on Sydney’s infrastructure deficit and the need to build a collaborative business environment similar to Silicon Valley.
Download the report here