Sydney is the industrial, commercial, financial, and tourism capital of Australia and is one of the most significant financial centres in the Asia-Pacific region. Sixty of Australia's largest corporations have established their headquarters in Sydney. Sydney is also the hub of information technology and telecommunications, commanding over 40 per cent of the US$10-billion Australian telecommunications market. Because Sydney is Australia's major commercial centre, public and private sector administration occupies much of the workforce but manufacturing continues to be important: metals, machinery, clothing, processed food, electronic equipment, motor vehicles, ships, and refined petroleum are some of the wide range of Sydney's manufactured products. Sydney also handles most of Australia's foreign trade. Exported wheat, wool, and meat are some of the items that flow through the city's Port Jackson or through the large port complex on neighbouring Botany Bay. Sydney also has, at Kingsford Smith International Airport, the busiest air terminal in the country. Air transport for Sydney has long been a problem: a third runway opened at the airport in 1994 after much controversy and protests from residents over noise levels. The issue of the siting of a second airport for the city remains a contentious political issue. The scenario is exacerbated (in the short-term) by the impending influx of visitors for the Olympic Games in 2000.Microsoft® Encarta® Online Encyclopedia 2001
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