Blessed with a year-round average of eight hours of sunshine per day, a beautiful river running through downtown and located just minutes from the white-sand beaches of the Indian Ocean, it is not surprising Perth has become Australia’s fastest-growing city.

What is surprising is that spotlessly clean and green Perth owes much of its transformation from a quiet provincial town on the edge of Australia’s lightly populated West Coast into one of the country’s most exciting and culturally vibrant cities to the rough-and-tumble harvesting of iron ore, coal, oil, nickel, bauxite, copper and gold.

There are approximately 500 commercial mineral projects, 800 mining operations and 64 operating oil and gas fields in Western Australia. Although many of these sites are a thousand miles from Perth (the state of Western Australia, of which Perth is the capital, is four times larger than Texas), most executives and workers and the money connected with these operations move through Perth.

China’s insatiable appetite for iron ore and coal and worldwide demand for liquefied natural gas, oil and minerals created a boom time for Western Australia’s natural resource industries, with mining investment making up half of Australia’s total economic growth in 2012. Hotels in Perth’s Central Business District are running at 86 percent occupancy, and over the past five years passenger numbers jumped an average 9.2 percent a year at Perth International Airport, where terminal expansion plans are under way.

Average household income in Perth rose 35 percent in the past five years, a flurry of new hotels and upscale restaurants are opening in the CBD to cater to the influx of business travelers, and boat sales in this water-obsessed city are down only because the berths in marinas along the Swan River are already filled. In The Economist’s recent City Livability Survey, Perth ranked eighth out of 140 world cities, with perfect scores in the health care, education and infrastructure categories.

“There’s an increasing sophistication in Perth. We’re not just attracting construction workers but professionals as well. We’ve seen global law firms come in, global consulting firms and many more large companies,” said Mark Barnaba, chairman of the large financial firm The Macquarie Group in Western Australia, in an interview with Perth Now. “All of a sudden we’ve got a destination that’s become a natural resource hub, comparable with Houston and Aberdeen [Scotland].”

The negative side to Perth’s economic boom is that the city is now one of the most expensive in the country, with price increases for everything from coffee and a pint of beer to hotel rooms and housing. Average weekly rents have risen by almost 80 percent in the last five years, and home prices in upscale Perth neighborhoods rival those in Sydney. In the fashionable suburb of Peppermint Grove, the median house value is $4.5 million.

With close to 2 million residents in metropolitan Perth, Australia’s fourth-largest city, it is still called the world’s most isolated capital city because of its location on the far west coast of the continent. That hasn’t stopped thousands of Aussies from Eastern Australia from migrating to the fast-growing Perth suburbs or to the resource-rich Western Australia mining operations, tempted by wages four times the national average.

Because large energy companies like Shell Australia, BHP Billiton, Rio Tinto, Newmont Mining and Chevron are shifting employees to Perth, the vacancy rate for CBD office space in the city is only 4 percent, the lowest in Australia. This, even after the completion of several new buildings in 2012, including the 45-story City Square tower, which opened last year, adding 914,000 square feet of office and retail space to the CBD. Today, there are more than 700 listed companies in Perth, the highest number of any Australian city.

In Perth, the business culture combines hard work during the week with long, sunny weekends packed with a plethora of outdoor activities. These can include surfing on nearby beaches, boating on the Swan and rugby and soccer matches on hundreds of outdoor fields. Overnight trips into the rugged outback of Western Australia exploit adventurous hiking and biking trails which can easily fill a few days.

To keep pace with the dramatic increase in the city’s corporate economy, there are several major construction projects taking place at the same time. Elizabeth Quay is a $2.7 billion project that will transform 25 acres of land along the Swan River into new residential, hotel and commercial structures along with waterfront recreational venues. The project will open in stages beginning in 2015.

Artist’s rendering of Queens Riverside © Metropolitan Redevelopment Authority

The $2 billion Queens Riverside project will also make use of land along the Swan River, revitalizing almost 100 acres in the eastern CBD. A new river inlet; residential towers; finger wharves and landscaped boardwalks with cafés, bars, upscale accommodations and commercial opportunities will also incorporate green space, wetlands and public art. Completed developments in the first phase include Sovereign Place, with 42 residential townhouses, and Fraser Suites Perth, a luxury hotel. QIII, an almost-completed, upscale, 26-story residential tower, has views of the city, the Swan River and the distant escarpment known as the Darling Range.

Perth City Link is a regeneration project that will reconnect the CBD with the eclectic and bustling neighborhood of Northbridge by 2014. The 35-acre project will involve sinking a busy bus station and rail line below street level, preparing the site for multi-use redevelopment, including revitalizing the Perth Cultural Centre district. Encompassing a diverse group of cultural venues, it includes the Art Gallery of Western Australia, Blue Room Theatre, Perth Institute of Contemporary Arts and the State Theatre Centre of Western Australia.

Construction of a light rail network in Perth is to begin in 2016, with the first trains set to run in 2018. Although suburban and long-distance trains have served downtown Perth for years, a new urban light rail line, estimated at $1.2 billion, will be a major achievement for the redeveloped CBD. Another large project, scheduled to begin in late 2014, is the construction of Perth Stadium, a 60,000-seat, retractable-roof structure financed by private and government entities, estimated to cost about $750 million.

On the hotel side, Crown Limited started construction on the newest and largest hotel in Perth, the $575 million, 6-star, 500-room Crown Towers Perth, part of Crown’s redevelopment of Perth’s former Burswood Entertainment Complex. The hotel’s landscape will include convention and resort facilities, bars and restaurants. Two restaurants, Nobu and Rockpool Bar & Grill, have already opened, and the entire property is scheduled for completion in 2016.

King’s Park © Minyun Zhou | Dreamstime.com

Things to Do in Perth

Perth is a year-round outdoors city, so expect lots of walking, biking, sailing or beach activities. For a great introduction to the city, walk uphill from the Central Business District to Kings Park, on the western side of the city, one of the largest urban parks in the world with 1,000 sprawling, landscaped acres and views of the Swan River and city skyline.

Northbridge is an exciting and rapidly gentrifying neighborhood just north of the CBD, where the Western Australia Museum, Perth Institute of Contemporary Arts and Art Gallery of Western Australia reside within the Perth Cultural Centre. Northbridge is great for strolling past eclectic boutiques, retro and Art Deco shops, and small ethnic restaurants.

The Perth Mint is one of the world’s oldest mints still operating from its original premises. The biggest, most valuable gold bullion coin in the world is a recent addition to its collection of gold bars and nuggets. The pure gold coin weighs one ton and is valued at more than $55 million.

Ferries leave from Barrack Street on Swan River trips, a good way to experience this lovely, inner-city waterway and some of the exclusive residential neighborhoods along its banks. Other ferry lines depart Perth for Rottnest Island, a small, wild island just offshore from the Perth suburb and fishing port of Fremantle. Here you can snorkel or scuba dive the limestone reefs around the island.

The Pinnacles at Nambung National Park © Lau Sang Tan | Dreamstime.com

For daytrips outside Perth, rent a car and head north for a beautiful two-hour ride along Indian Ocean Drive to the fishing town of Cervantes, visiting the famous Pinnacles at nearby Nambung National Park. An hour’s drive south of Perth lie Rockingham and Mandurah, two seaside towns that offer sandy beaches, windsurfing, whale-watching and a good chance to see some of the 250 wild bottlenose dolphins that reside in Shoalwater Marine Park.

Upcoming special events in Perth include “Picasso to Warhol: Fourteen Modern Masters” at the Art Gallery of Western Australia, June 16–Dec. 3; Revelation Perth International Film Festival, July 4–14; Perth Fashion Festival, Sept. 11–16; and the Perth International Golf Tournament, Oct. 17–20.

Checking in with Stephanie Buckland

CEO, Tourism Western Australia

HOW WILL PERTH’S MAJOR PROJECTS AFFECT THE BUSINESS VISITOR EXPERIENCE?

Perth is vibrant, modern, welcoming and changing rapidly. The city is undergoing one of its biggest transformations through three major projects with a combined value of around $6 billion.

All these developments include significant tourism amenities which will enhance the business and leisure visitor experience. These physical changes are fantastic for the city; and even though they are still a few years away, it is great to see that Perth keeps on evolving and, in fact, experiencing a social transformation, exuding a new vibrancy and culture.

Dozens of new small bars, restaurants, cafés, pubs, taverns and some trendy refurbishments of existing stock changed the way locals and visitors eat, drink and have fun. In addition to great retail outlets, entertainment venues and cultural spaces as well as Perth’s famous natural beauty, fantastic climate and its unique outdoor lifestyle, there truly is something for everyone. Tourism WA, through its Eventscorp division, is attracting and developing world-class sporting, cultural, arts and culinary events across Perth and other parts of the state to increase visitation and ensure we have a great range of events for everyone.

WITH ITS SUCCESS AS A CENTER FOR THE ENERGY INDUSTRY IN WESTERN AUSTRALIA, PERTH HAS A REPUTATION FOR BEING EXPENSIVE FOR VISITORS. HOW IS THE CONVENTION AND MEETINGS INDUSTRY RESPONDING?

All visitors, whether for business or leisure, should be aware that Perth has a range of accommodations, restaurants and shops to suit all budgets. Given the strength of Western Australia’s economy, many people travel to Perth to conduct business. According to the Quarterly Visitor Snapshot for Year Ending September 2012, interstate business travel increased an average of 4 percent per year for the past three years, while international business travel increased an average 12.3 percent per year. Business travelers also contribute to the growth of the tourism industry — in 2011–12, the Perth Convention Bureau attracted more than $101 million in convention delegate spending, which exceeded its target.

WHICH DESTINATIONS WOULD YOU RECOMMEND FOR ONE-DAY EXCURSIONS OUTSIDE THE CITY?

Some of my favorites include visiting the vibrant port city of Fremantle, which showcases a fascinating maritime history and a multicultural feel; going to Rottnest Island, which is only a short ferry ride from Perth and the perfect way to spend the day swimming, snorkeling and bike riding; or visiting WA’s oldest wine region, the Swan Valley, only 20 minutes from Perth, boasting fantastic wineries, restaurants and art galleries.

Perth: Just the Facts

Time Zone: GMT +8
Phone Code: Country code: 61 City code: 8
Currency: Australian dollar
Entry/Exit Requirements: All visitors must have a valid passport and visa to enter Australia. The type of visa required depends on your reason for visiting and from which nation you are arriving. Check the Australia Department of Immigration and Citizenship website for visa information.
Official Language: English
Key Industries: Mining, property and business services, finance and insurance, construction, manufacturing, communication services, tourism, health services

Perth Info to Go

Perth International Airport (PER) is located about 10 miles from downtown. The international and domestic terminals are about 10 minutes apart by car; a new domestic terminal is scheduled to open in 2013, replacing a smaller one. Ground transportation options to the Central Business District are CONNECT shuttle bus (50–60 minutes, $16 one way) and taxi (20–30 minutes, $40 one way). Major car rental firms have airport service counters at international and domestic terminals.

Where to Stay in Perth

Crown Metropol Perth This deluxe, 398-room property close to the CBD and airport overlooks the Swan River. Amenities include the Crown Perth Casino and Entertainment Complex, a swimming pool, meeting space, shops and restaurants. Great Eastern Highway, Burswood $$$$

Fraser Suites Perth This 19-story, 5-star property opened in 2012. The 236 fully serviced apartments cater to business travelers with an indoor pool, a gym, a restaurant and high-tech meeting rooms. 10 Adelaide Terrace $$$$

The Richardson Hotel & Spa Located in upscale West Perth 10 minutes from the CBD, the 5-star boutique features 74 luxurious guestrooms, fine dining at Opus Restaurant and ESPA treatments at The Spa. 32 Richardson St. $$$$

Restaurants in Perth

The Heritage Brasserie Bar & Boardroom In a restored historic building, the eatery attracts businesspeople by day, couples and singles at night, and offers a lively bar scene, excellent fish and lamb, and private rooms for meetings. 131 St. Georges Terrace $$$$

Matilda Bay Restaurant Situated on the banks of the Swan River, Matilda Bay is known for Western Australian seafood and fine wine. The interior of local timbers and stone makes a relaxed setting. 3 Hackett Drive, Crawley $$$$

Restaurant Amusé Opened in 2007 by Hadleigh and Carolynne Troy, the award-winning Amusé serves an ever-changing, 10-course tasting menu tailored to guests’ dietary needs. Dinner only; reserve a month ahead. 64 Bronte St., East Perth $$$$