In 2013, Macquarie Park was Australia's 10th biggest local economy, with output worth $9.1 billion. It is likely to surpass North Sydney as NSW's second largest local economy in four to five years. Sydney Olympic Park, which is very close to the city's economic centre of gravity, also has growing clout. The output of the Homebush Bay-Silverwater area, which takes in Olympic Park, was $5.12 billion in 2013, nearly double what it was in 2001-02. The Olympic Park area now ranks as the seventh biggest local economy in NSW and the 20th biggest in Australia.

Modelling by PwC shows Sydney's economic centre of gravity shifting ever further away from the CBD. Credit:PwC Geospatial Economic Model

The challenge for Sydney is to connect its dynamic economic hubs more effectively.

Politicians like to talk about Sydney as a global city, but it has a glaring weakness for a city claiming that status: its public transport system. Sydney has a very high level of car dependency by world city standards and a low level of mass transit coverage.