The conversation
The draft Economic Development Strategy 2025–29 proposed a bold ambition: to make Melbourne the Asia-Pacific's city of innovation, talent and liveability.
Between 16 April and 13 May 2025, we invited the community to provide feedback, which helped refine the short and long-term goals of the strategy.
We received 93 responses to the survey from residents, visitors, business owners and students.
We also conducted targeted consultation with industry leaders and resident associations during this time.
Gathering insights
From 16 April to 13 May 2025, we used a range of methods to promote consultation, including:
- direct emails
- social media posts
- industry newsletters
- outreach by the Business Concierge team.
We collected feedback through:
- an online survey
- workshops with industry groups
- one-on-one meetings with stakeholders
- discussions at the M2050 Summit.
What we heard
Eighty-four per cent of survey respondents support the draft vision: Melbourne will be Asia Pacific's top choice for talent, investment and opportunity.
The city’s liveability and diversity are seen as natural magnets for talent.
- Melbourne's cultural and social capital, including major events, world-class sporting precincts, independent arts and hospitality.
- First Nations knowledge, strong community networks and the city's history of activism.
- The concentration of expertise in the health, biotech, and design industries.
- Time-zone alignment with Asia and the accessibility of public transport.
- A small number of respondents flagged customer service standards and complex regulations as areas that undermine these strengths.
- Improved safety, cleanliness, and activation of the CBD after dark.
- Housing affordability and transport congestion, which are seen as barriers to attracting and retaining talent and investment.
- Fast-track climate-smart infrastructure.
- Reduce red tape that can affect small businesses.
- Opportunities for broader economic participation beyond the CBD, particularly for outer-suburban and regional commuters.
Eighty-two per cent of survey respondents supported this opportunity.
- Melbourne is seen as having the right foundations for an innovation hub, including strong universities, a growing startup scene, and advanced manufacturing.
- Supporters recommend prioritising research commercialisation, prototype funding, and scaling local IP for export.
- Concerns include high commercial rents, safety in innovation precincts, and over-reliance on international student demand.
Seventy-eight per cent of survey respondents support this opportunity.
- Respondents welcomed efforts to attract talent, highlighting Melbourne's inclusive culture, progressive values, and lifestyle appeal.
- Rising living costs and limited housing options were seen as potential barriers for skilled migrants and interstate graduates.
- Some respondents expressed concern about talent moving to Sydney or Singapore without a stronger, well-marketed value proposition for tech and creative professionals.
Seventy per cent of survey respondents support this opportunity.
- Respondents welcomed the ambition to enliven the city, with vibrancy seen as a driver of economic growth through hospitality, music, festivals, and the night-time economy.
- Respondents called for more pedestrian-only streets, pop-up retail, and support for grassroots cultural activities.
- Feedback also stressed the need for balanced regulation to manage noise and ensure public safety, enabling residents and late-night businesses to coexist.
- Respondents emphasised the need to get the basics right first: safe, clean, and well-lit streets with visible policing, prompt graffiti removal, and reliable waste services.
- Affordable housing and commercial rents were seen as essential to retaining talent and supporting small businesses and start-ups.
- Respondents called for more support for creative and small-business sectors through low-cost studios, co-working spaces, public art, and cultural events that boost foot traffic and local hospitality.
- Create or broker affordable makerspaces, wet labs, and co-working venues.
- Streamline permits and trial “sandbox” regulations for pilot projects.
- Expand micro-grants and seed funding, especially for under-represented founders.
- Strengthen connections between universities, industry, and investors through demo days and shared data platforms.
- Key obstacles included high rents, operating costs, and slow planning approvals.
- Concerns were raised about an uneven playing field favouring large corporates over small to medium enterprises (SMEs).
- Other barriers cited were perceptions of street crime, poor night-time public transport, and lack of transparent evaluation metrics.