When David Jones announced a couple of months ago that it would relocate its head office to Melbourne, it joined a growing number of businesses and people relocating to the southern capital.
Businesses are taking advantage of Melbourne’s affordable office and home rent, qualified workforce, lower congestion and growing population.
In 2016, South Africa’s Woolworths Holdings announced it would set up its Australasian office in Melbourne, creating more than 800 jobs.
The company, which owns Australian fashion retailers David Jones and the Country Road Group, said it would invest $240 million in its operations, citing Melbourne’s leadership in the retail sector and support from the Victorian government.
More people are also moving to Melbourne, Australia’s fastest growing city. The Australian Bureau of Statistics is forecasting that Melbourne could overtake Sydney as Australia’s biggest city as soon as the 2030s. This population growth is underpinning Victoria’s economic growth and expanding the consumer market for businesses to sell into.
By 2036, the ABS expects Melbourne to have a population of between 6.1 and 6.8 million, similar to, if not higher than Sydney’s.
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