Over the past decade, Melbourne has secured enviable top spots in the Economist Intelligence Units Global Liveability Index for nine years in a row. In 2019, Melbourne was voted the second most livable city in the world, trailing behind Vienna by just 0.7 points. The EIU index is one of the most respected and prestigious global city livability rankings around the world, with the institution rating more than 140 cities using various livability factors.
Famed for its pristine beaches, amazing healthcare, highly affordable cost of living, and a quality of life that is hard to beat anywhere around the world, Melbourne definitely deserves its top spot in the EIU livability index.
But how does Melbourne do it?
Why Melbourne is One of the Best Cities on Earth: An Investor’s Haven
As one of Australia’s most important ports, Melbourne is crucial to the country’s overall trade and commerce, with global trading and operations to and from Melbourne made easier with the city’s world-class infrastructure and ports. In fact, Melbourne makes up a whopping 66 percent of Australia’s overall economy.
Melbourne was also one of the first cities in Australia to make digital connectivity a top priority, not only to keep its citizens happy, but to make it an important business hub across various industries. This makes Melbourne an attractive place for investors, and it’s reflected in its property market.
Despite the global pandemic of 2020, Melbourne managed to maintain strong economic growth without sacrificing the safety of its citizens. In fact, in 2021, the Melbourne property market grew by a respectable 5.8 percent, the only city in Australia to have an increase in market listings. Melbourne mortgage brokers are also predicting that this is an upward trend is likely to continue thanks to Melbourne’s booming population.
Why Melbourne is One of the Best Cities on Earth: World-class Infrastructure
Part of what makes Melbourne so attractive to both private citizens and private corporations is its world-class infrastructure that allows people and businesses to move about freely to, across, and from the city of Melbourne. The city has an impressive, well-maintained road system with its rail and tram network, and it’s also home to Australia’s largest and busiest air and sea ports. These ports of entry ensure Melbourne’s place as one of the most important business hubs in the world.
But the city isn’t done: over the next few years, the Victorian government’s investment in infrastructure across the state and the city of Melbourne is expected to reach a whopping $13.4 billion. These infrastructure projects are designed to further connect Melbourne with the other Alpha cities across Australia and will help ease the city into accommodating a steadily growing population.
Why Melbourne is One of the Best Cities on Earth: Superb Healthcare and Education
Beyond infrastructure and economy, one of the most important factors to Melbourne’s success in the Global Liveability Scale is the respectably high standard of living in the city. Melbourne accomplishes this by investing heavily in its healthcare and educational systems; in fact, the city has probably one of the strongest and most comprehensive healthcare systems in the world, with world-class public and private hospitals backed by internationally respected research and development institutions and a thriving pharmaceutical industry.
The city is also home to high quality schools and tertiary institutions, all of whom contribute to Melbourne’s thriving business and industry sectors. The University of Melbourne, the city’s educational crown jewel, is recognized as the country’s leading university and one of the finest research institutions in the world.
This combination of world-class healthcare and educational sectors not only means that citizens are taken care of, it also attracts high-quality professionals from around the world, ensuring that Melbourne maintains a strong cultural and intellectual diversity that’s unrivaled in Australia.
Why Melbourne is one of the Best Cities on Earth: Constant Improvement
Since the start of the Global Liveability Index back in 2002, Melbourne has consistently ranked in the top 10. Two decades later, Melbourne has garnered itself an impressive record, with the capital of Victoria being crowned the number one most livable city on Earth a whopping 10 times and was the top ranked Australian city for 18 years in a row.
Even with the pandemic of 2020, Melbourne was always in the top most livable city in the world, and the city accomplishes through improvements of its livability factors.
In the 20 years since the Global Liveability Index started, Melbourne has scored perfect 100s across various livability factors, with special mention going to its healthcare system, educational system, and its impressive infrastructure. Melbourne also scores near-perfect in Stability, Culture factors, and Environmental friendliness. It’s also seen as one of the most attractive cities for youth and new families thanks to the city’s large number of parks and relatively low crime rates.
But this doesn’t just happen by accident: Melbourne keeps itself in the top spot of the most livable cities on Earth specifically because it is constantly trying to improve the quality of life for all its citizens. After all, happy residents equal positive economies: being billed as one of the most livable cities on Earth attracts and retains talented professionals from across Australia and from around the world.