Geelong as an Emerging Regional Hub for Innovation and Development

Having emerged as one of Australia’s fastest-growing cities, Greater Geelong is experiencing solid economic growth and an uptick in business investment. The region is a gateway for western Victoria, functioning as a transport hub that connects major regional destinations, including Surf Coast, Colac, Ballarat and Warrnambool.

Geelong's population is forecast to grow from 301,443 in 2024 to 387,961 by 2030, and subsequently, demand for commercial real estate and essential services is expected to increase. Growth will be bolstered by the large proportion of millennials and an inflow of residents leaving Melbourne, attracted by more affordable housing and lifestyle drawcards.

Geelong's Gross Regional Product reached $19.6 billion as of June 2023, with key industries such as healthcare, construction and manufacturing driving growth. The small business sector, comprising nearly 97% of local enterprises, is integral to the economy and contributes approximately $9 billion annually. As Geelong embraces innovation and sustainability through investments in infrastructure and smart technologies, the region is expected to create thousands of new jobs and evolve its historically industrial economy.