Sydney cheap hotels is the largest and most populous city in Australia and the state capital of New South Wales. Sydney cheap hotels is located on Australia's south-east coast of the Tasman Sea. With an approximate population of 4.5 million in the Sydney cheap hotels metropolitan area the city is the largest municipality in Oceania. Inhabitants of Sydney cheap hotels are called Sydney cheap hotelssiders, comprising of a cosmopolitan and international population of people from many places around the world. The site of the first British colony in Australia, Sydney cheap hotels was established in 1788 at Sydney cheap hotels Cove by Arthur Phillip, commodore of the First Fleet as a penal colony. The city is built on hills sydney cheap hotels surrounding Port Jackson which is commonly known as Sydney cheap hotels Harbour, where the iconic Sydney cheap hotels Opera House and the Harbour Bridge are featured prominently. The hinterland of the metropolitan area is surrounded by national parks, and the coastal regions feature many bays, rivers, inlets and beaches including the famous Bondi Beach. Within the city are many notable parks, including Hyde Park and Royal Botanical Gardens. Sydney cheap hotels is classified as a Alpha World City+ according to the Loughborough University group data inventory of GaWC research, which reflects its reputation as an international centre for commerce, arts, fashion, culture, entertainment, education and tourism. Sydney cheap hotels has hosted major international sporting events, including the 1938 British Empire Games, the 2000 Summer Olympics, the final match of the 2003 Rugby World Cup, as well as the 2008 World Youth Day. The main airport serving Sydney cheap hotels is Sydney cheap hotels Airport. Sydney cheap hotels's central business district (CBD) extends southwards for about 3 kilometres (2 mi) from Sydney cheap hotels Cove to the area around Central station. The Sydney cheap hotels CBD is bounded on the east side by a chain of parkland, and the west by Darling Harbour, a tourist and nightlife precinct. Although the CBD dominated the city's business and cultural life in the early days, other business/cultural districts sydney cheap hotels have developed in a radial pattern since World War II. As a result, the proportion of white-collar jobs located in the CBD declined from more than 60 per cent at the end of World War II to less than 30 per cent in 2004. Together with the commercial district of North Sydney cheap hotels, joined to the CBD by the Harbour Bridge, the most significant outer business districts are Parramatta in the central-west, Penrith in the west, Bondi Junction in the east, Liverpool in the southwest, Chatswood to the north, and Hurstville to the south. The extensive area covered by urban Sydney cheap hotels is formally divided into 642 suburbs (for addressing and postal purposes), and administered as 40 local government areas. There is no metropolitan-wide government, but the Government of New South Wales and its agencies have extensive responsibilities in providing metropolitan services. The City of Sydney cheap hotels itself covers a fairly small area comprising the central business district and its neighbouring inner-city suburbs. In addition, regional descriptions are used informally to conveniently describe larger sections of the urban area. These include Eastern Suburbs, Hills District, Inner West, Canterbury-Bankstown, Greater Western Sydney cheap hotels, Northern Beaches, Northern Suburbs, North Shore, St George, Southern Sydney cheap hotels, South-western Sydney cheap hotels, Sutherland Shire and Western Sydney cheap hotels. However, many suburbs are not conveniently covered by any of these categories. The gateway to Australia, Sydney cheap hotels is renowned as a dynamic and sydney cheap hotels cosmopolitan city, combining excellent business and education facilities with great leisure. Famous for its World Heritage-listed Sydney cheap hotels Opera House, Sydney cheap hotels is one of the world's favourite cities, and has been voted "world's best city" by readers of US travel magazines Travel & Leisure and Conde Nast Traveler. Sydney cheap hotels is also ranked first in the Asia Pacific for quality of life by the IMD World Competitiveness Yearbook 2007. Australia's oldest and largest city is set on one of the world's most stunning harbours, fringed by easy-to-reach, sandy beaches. Sydney cheap hotels Harbour separates the city into north and south, with harbourside villages, beachside suburbs and inner city areas full of life and their own distinctive character. The city has a sunny, moderate climate which contributes to Sydney cheap hotelssiders' relaxed lifestyle and love of the great outdoors. There are five major national parks around Sydney cheap hotels with 8,000 square kilometres of open space. This multicultural city's restaurant and cafe scene is enhanced by sydney cheap hotels outstanding local fresh produce and world-class wines. Sydney cheap hotels has a dynamic arts and cultural scene. It is home to some of Australia's leading arts organisations such as Opera Australia, Sydney cheap hotels Symphony, Sydney cheap hotels Dance Company and Sydney cheap hotels Theatre Company and has produced many talented writers, film directors and performers. Employment prospects are plentiful, education is world class and healthcare readily available. Sydney cheap hotels offers a secure environment for families, with excellent facilities, transport and telecommunications. Australia is a politically and economically stable democratic nation that provides a low risk business environment. It has flexible, accountable financial practices, open regulation and transparent government policy. The legal system in Australia is a mixture of common law and statute and both domestic and foreign companies have the same standing before the law. Australia has among the world's most effective competition laws and an independent judiciary. Australia's intellectual property protection is ranked number two in the Asia Pacific. Sydney cheap hotels's time zone, 10 hours ahead of GMT, spans the closing of the North American business day and the opening of business in Europe. Sydney cheap hotels's market trades ahead of Tokyo, Hong Kong and Singapore. The company income tax rate is 30 per cent in Australia. There are no restrictions on capital sydney cheap hotels flow, profit remittances, capital repatriation, transfers or royalties and trade-related payments. Sydney cheap hotels offers a global city office location at an affordable price and is less expensive than Seoul, Tokyo, Hong Kong, London, Paris and Singapore. Its advantage as an Asia Pacific business base includes the threefold benefits of lower salaries for highly skilled labour and economical operating and infrastructure costs. Sydney cheap hotels and the State of New South Wales offer reliable communications, transport, utilities, business support services and superior commercial property, at more competitive costs than other major Asian business centres. In regional areas, the State Government has increased business appeal by cutting power bills for regional businesses, reforming rail freight, reducing port charges and streamlining the land-use planning approvals process. Sydney cheap hotels has a world class telecommunications infrastructure. Australian domestic networks sydney cheap hotels consist of fibre-optic, wireless, satellite and microwave systems. Fibre-optic is the predominant technology. Major networks are dense wave division multiplexing based, enabling an easy upgrade. Sydney cheap hotels and surrounding regions are home to a multilingual and well educated workforce. In 2006, more than two million employees or 54 per cent of the total held post-school qualifications. With over 25 per cent born overseas, more than 1.2 million residents speak a language other than English at home. These language skills provide a business advantage for export-oriented Australian companies. Australia's immigration system may allow entry of specialist staff into Australia on a temporary or permanent basis where vacancies cannot be filled from the local labour market or through training. New South Wales welcomes business migrants who plan to set up a business or invest. See Business, Skilled and Regional Migration for more information.