Economic Insights
Fremantle is reinventing itself in a commercial sense. Our city’s port and the ocean will always be central to our identity, but Fremantle is no longer just an idyllic destination for visitors.
The city of Fremantle serves as Western Australia's port city, contributing significantly to the region's economic output with a Gross Regional Product of $5.08 billion.
It's a place to call home, to grow your business, to build a career.
Fremantle is second only to Perth in its role as an economic hub, already well connected to transport corridors and the Trade Coast to the city’s south.
But that’s just the beginning.
Fremantle is undergoing a residential renaissance being driven by both the private sector and a variety of State Government projects.
As part of the development of several structure plans and a rigorous strategic planning process, Fremantle will see a range of new and innovative communities developed just minutes from the city centre.
Fremantle is driven by six high-growth strategic sectors that are shaping the city’s commercial landscape and attracting ongoing investment:
- Blue Economy
- Green Economy
- Creative and Immersive Industries
- Visitor Economy
- Start-up and Innovation Ecosystem
- Health and Education
Fremantle offers unmatched access to major ports and trade hubs within the Western Trade Coast and is experiencing ongoing investment in infrastructure and urban development.
The city is unlocking space for over 10,000 residents and 10,000 jobs – a vibrant urban centre that blends heritage, culture and community. Fremantle is evolving from its well-known identity as a vibrant café strip and tourist destination into a dynamic hub for investment and commerce. Its historic streets, scenic coastline, and iconic landmarks remain a strong foundation, now complemented by a growing focus on innovation, enterprise, and economic opportunity. This unique blend of lifestyle and business potential is helping to attract top talent and forward-thinking enterprises to the city.
In 2023-24, Fremantle supported 33,247 jobs and represented 2.3 per cent of Greater Perth’s economic output, despite only making up 1.9 per cent of its geographical area. Local economic growth has averaged more than 1.8 per cent annually in the past five years (2019-24). Population growth has been a significant catalyst, with residents increasing by 2.7 per cent per annum in the same period, comfortably exceeding the 10-year average of 1.8 per cent and Greater Perth’s 2.4 per cent. Unemployment rates remain impressively low at 4.0 per cent in 2024, well below pre-COVID levels, providing a solid foundation for local retail and hospitality operators.
Today, the city is home to approximately 36,000 people across the suburbs of Beaconsfield, Fremantle, Hilton, North Fremantle, O’Connor, Samson, South Fremantle and White Gum Valley. Over 5,000 businesses operate in Fremantle across key sectors, employing more than 33,000 people.
Crucially, visitors account for a 78.3 per cent of all local spending, underscoring the importance of tourism to Fremantle’s economy. The city’s rich heritage, world-class waterfront, thriving arts scene, and strong community spirit continue to draw investment and talent. Innovation, sustainability, and collaboration are the bedrock of Fremantle’s economic future, ensuring growth benefits the entire community.
Recognised as a creative capital, Fremantle is home to some of Australia’s most celebrated musicians and artists. Its unique cosmopolitan and electric mix of contemporary restaurants, bars and boutiques provide an irresistible environment that inspires innovation and attracts talent. Fremantle’s live music venues and compelling program of world-class festivals and events significantly reinforce the city’s spirit and soul.
Fremantle has been earmarked by the State Government as a place of bold thinking, recognised not just for its historic port, but as a city central to Western Australia’s future economic and urban ambitions. With a strong identity, rich heritage and forward-looking mindset, Fremantle is increasingly viewed by government, industry and the private sector as a canvas for a sustainable, creative and innovation-led city.
The Future of Fremantle Economic Place and Vision reflects this shift, highlighting the city’s growing role in shaping the next chapter of Western Australia’s growth and investment agenda.
The vision proposes that Fremantle would become a larger, more globally significant coastal city, and have the capacity to deliver an additional 45,000 jobs, 20,000 new and diverse homes, 55,000 new residents and an additional $13.6 billion in Gross State Product annually.
It adopts a long-term 50-year redevelopment horizon to be staged as land becomes more available through the relocation of trade, and creates new opportunities for tourism, maritime industries, education, culture and the arts and research and development.
Regional Context
Fremantle, Western Australia’s historic port city and vibrant gateway to global trade and innovation, anchors the State’s Trade Coast and offers businesses direct access to international markets.
The city’s distinct identity, rich heritage, and progressive outlook has made it a popular location for where businesses come to create and, importantly, to expand.
The Future of Fremantle report stems from the State Government’s recommendation that Kwinana, an industrial precinct south of Perth and Fremantle, becomes the site for a new container port to meet the state’s long-term freight needs.
As Western Australia expands, government, industry and the private sector see Fremantle as a canvas for a new kind of city – sustainable, creative and future-focused.
Under the Westport program, planning is under way for new port facilities at Kwinana, supported by integrated road and rail freight links and modern logistics operations.
This recognition of Fremantle’s potential is more than symbolic – the city has been identified as central to achieving the State’s economic and urban ambitions.