Geelong among fastest growing Australian cities with rapid increase in population and employment

Geelong is one the fastest growing cities in Australia, with a positive future on the horizon, according to new research.

Gawk general manager Peter Upton with members of the Geelong team celebrate the businesses continued growth after establishing in the city. Picture: Mark Wilson

Geelong is in the top 12 fastest growing cities in Australia and a new report has shown the region has a runway for continued population and employment growth.

KPMG’s Enterprising Cities report revealed the unemployment rate in Geelong in 2023 was 3.3 per cent, population growth was 3.1 per cent, and employment growth was 6.4 per cent.

KPMG Geelong boss Paul Robson said the local economy had broadened beyond its traditional focus on heavy manufacturing to embrace a variety of sectors.

“Geelong is now not only a lifestyle destination for an ever-growing population, but also has significant business, industry and public sector opportunities,” he said.

Mr Robson said major projects, including a new convention centre, would see the construction sector be a future growth area.

“We already have a centre of excellence for advanced fibre and composites, but how do we drive that further and be a world class leader in that space?” he said.

“Another opportunity going forward from the Hanwha announcement and Geelong’s manufacturing capability is how we make sure private businesses are part of the defence supply chain.”

Mr Robson said key challenges were housing, infrastructure and transportation.

“In the last few years we’ve started to hear more about how we move people around Geelong,” he said.

“We want to maintain the lifestyle benefits Geelong brings, but we could lose some benefits if we don’t get our strategies right.”

Mr Robson said the biggest population spike was in the 30-39-year-old cohort.

“Stats show early to mid-40s is when people generate the most in the economy, so Geelong has a spike of people coming through who will continue to feed the economy,” he said.

KPMG Geelong boss Paul Robson.

Outdoor advertising agency Gawk is one of many businesses in Geelong expanding as the city does.

Director James Course said Gawk set up a co-working space in Torquay about four years ago and two years ago moved into Geelong.

“We have grown from a Torquay office with a couple of people to about 15 in Geelong and we are outgrowing our space,” he said.

Mr Course said the appeal of Geelong was its hybrid of commercial and lifestyle opportunities.

“We looked at it as the perfect balance in terms of the opportunities for people to work in jobs they want and the lifestyle they want,” he said.

“From a business perspective choosing Geelong was about providing jobs that aligned with what people wanted.”

Mr Course said it was clear to see how strong the growth of Geelong was.

“There’s a great attitude towards it,” he said.

“Whenever you have a conversation with someone they are wanting to grow the local economy and will connect you with people to assist in any challenges you may face.”

Originally published as Geelong among fastest growing Australian cities with rapid increase in population and employment