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Sydney continues to be one of Australia's premier destinations, not only for international visitors but also for students seeking education opportunities. As a gateway to Australia, the city ranks among the top 60 most visited cities worldwide. In 2013, Sydney hosted over 2.8 million international visitors, contributing a significant $5.9 billion to the local economy. These visitors spent a combined 59 million nights in the city. The largest groups of international tourists hailed from China, New Zealand, the United Kingdom, the United States, South Korea, Japan, Singapore, Germany, Hong Kong, and India.
Additionally, Sydney welcomed 8.3 million domestic overnight visitors in the same year, spending $6 billion, and in 2012, approximately 480,000 visitors were in the city each day, contributing an average of $36 million to the economy daily. The tourism industry directly employed 26,700 individuals in 2011, with popular attractions such as the Sydney Opera House, Sydney Harbour Bridge, Bondi Beach, and Darling Harbour drawing both domestic and international crowds.
Sydney is continuously working on expanding its tourism infrastructure. Notable projects include a new casino and hotel at Barangaroo, as well as the redevelopment of East Darling Harbour, which will feature Australia's largest exhibition and convention center. These developments are designed to boost the city's attractiveness as a global tourist destination.
In addition to tourism, Sydney excels in international education, with more than 50,000 international students studying at its universities. An additional 50,000 students attend vocational and English language schools. The international education sector contributes a notable $1.6 billion to the local economy each year, providing jobs for 4,000 local residents. Sydney's status as the top city for international students reflects its reputation as a leading education hub in the Asia-Pacific region.
However, Sydney’s economic growth is tempered by its ongoing housing affordability crisis. As of 2023, the city was ranked as the second least affordable city in the world for purchasing a home, with the average house price reaching A$1.59 million. The average unit price stood at A$795,000, placing Sydney in the spotlight for its housing shortage, a problem that has worsened in recent years. As the city grapples with these challenges, the tourism and education sectors continue to serve as vital pillars of its economy, driving job creation and international recognition.