Melbourne, the capital of Victoria, Australia, has a Gross Regional Product (GRP) estimated at US$ 76 billion. The city is characterized by a high educational attainment, with 54.2% of its population holding a bachelor's degree or higher. Key industries driving Melbourne's economy include professional, scientific and technical services, with significant contributions from finance and insurance sectors. Melbourne is also known for its extensive parks and gardens, vibrant arts scene, and as a major centre for theatre and street art.
The city has a vibrant economic environment, supported by a flourishing cultural scene and robust educational institutions, which attract international talent and foster innovation. It has also had significant investments in digital technology and renewable energy projects.
The city's liveability is enhanced by its extensive parks and sports facilities, which contribute to a high quality of life, though it faces challenges related to the cost of living and housing affordability. The city also struggles with unprecedented heat waves which are projected to get worse.
