Page: 11670
The Hon. J. R. JOHNSON: My question is to the Treasurer. Will the Minister inform the House of the results of the recent Arthur Andersen and Fortune magazine survey of the world's best business centres?
The Hon. M. R. EGAN: I thank the Hon. J. R. Johnson for his question. I am pleased to advise the House that the annual Fortune magazine survey of the world's best business cities was released last Friday. The survey is based on research by Arthur Andersen covering more than 160 cities around the world and interviews with almost 1,500 of the world's most senior business leaders.
Fortune magazine takes on board the Arthur Andersen survey results and analysis and then prepares its best cities listing. In this year's survey New York has been ranked the best business city in the United States of America and London has been ranked the best in Europe. I am delighted to report that Sydney has been ranked the second best city for business in the Asia-Pacific region—and, I might point out, higher than Singapore and Tokyo. The mass of statistical evidence compiled by Arthur Andersen reinforces this assessment.
Sydney—and, by inference, New South Wales—rates very highly in the categories for work force, business environment, cost of doing business, and quality of life for attracting talent. Significantly, these statistical findings are echoed by the comments of the senior executives questioned in the survey. Their top four concerns in deciding on the best business locations were: pro-business attitudes, government regulations, local availability of professionals, and technology and telecommunications infrastructure.
It is no accident that these are precisely the attributes that distinguish Sydney as the business capital of Australia and now, as recognised by Fortune magazine, as one of the world's business hot spots. The findings of the Arthur Andersen-Fortune survey cap what has been a vintage year for investment and new jobs for New South Wales. Our State and our economy have never been more competitive or more attractive to potential investors. And with more high-technology investment and new jobs in the pipeline, we can look forward to 2001 with a great deal of confidence.