SYDNEY, July 8 (Xinhua) -- Ahead of Sydney's Future Asia Business Summit, Australian demographer Simon Kuestenmacher has warned that the city needs to maintain a high liveability standard if it wants to capitalize on the new Asian economic boom.
"Sydney is a prime location for tourists and business professionals alike," Kuestenmacher said on Monday.
In order to capitalize on those circumstances, the city's infrastructure and living standards must keep up with an accelerating global standard, Kuestenmacher said.
"In the knowledge-driven global economy, businesses will increasingly choose to establish offices in locations that are considered safe, liveable and well-connected-digital infrastructure in Sydney must not lag behind its global competitors."
"Fast internet, a truly interconnected and smooth transport network and affordable housing will be key to attracting top global talent."
Kuestenmacher will be a keynote speaker at the Future Asia Business Summit in Sydney on July 23, with the theme "Sydney thriving in a smart Asian century."
Sydney Lord Mayor Clover Moore said the summit will help local businesses engage with global supply chains, and trade and investment opportunities in the region.
"We are living in the Asian century, and according to the World Economic Forum, Asia will be home to half of the world's middle class by 2020, and Asian economies will be larger than the rest of the world combined."
"A growing number of Australian jobs depend on the demand from Asia, so it's imperative that Sydney works together with neighbouring cities to create smart, sustainable, and global economies with a high quality of life."